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The effect of Bank Holidays on business revenue

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Bank Holidays are a wonderful opportunity for respite in a busy work schedule – whether you’re spending time with family or taking time out for yourself. And yet interestingly, research suggests that bank holidays (although there are only eight of them in the UK) can cost small businesses thousands in revenue.

According to a report by Yell Business, UK small businesses could potentially lose £2,250 each if they opt to close on every bank holiday. In spite of this potential for loss, just 26 per cent of businesses open their doors on bank holidays – despite 86 per cent of the public saying they specifically use the day to shop around (making it worth a business’s while to stay open!).

Of course, the effect of a bank holiday on a business depends largely on the type of business in question. For example, just 42 per cent of retail, catering and leisure businesses operate as normal – though it’s suggested many more should consider opening too.

Essentially, knowing your business and your customer base will help you determine whether it’s in your best interest to stay open on a bank holiday. Also have a look at your sales data and make an informed decision. And if you decide to close you business; plan for it – let your employees know whether they are working or not and log opening and closing hours on your business website.

As for the team at CH Systems – we’re always available to look after your heating and plumbing needs. For all your energy related questions, feel free to contact the CH Systems team on 0208 302 8149 or info@chsystems.cc.

Sources: Britishgas.co.uk and Is4profit.com

Business leaders share tips on how to minimise energy use

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New smart meter data has revealed that small businesses use 46 per cent of their total electricity between 6pm and 8am – when no one is at work (usually). The experts from Britishgas.co.uk reckon that a few simple changes could cut office energy bills by up to 20 per cent!

In an effort to help companies save costs on energy, business leaders taking part in The Business Show, the UK’s largest business exhibition, discussed the importance of saving energy as well as what they do to cut down on their energy use at work, and here’s what they came up with:

“We had a survey done of hoe energy efficient we are and, off the back of that, we changed a number of things; we changed the way our light switches work so if you leave the room they’ll turn off automatically.” – Steven Bartlett (social media agency Social Chain).

“I think energy efficiency is vital. Not only does it save you money but, in this world that we live in, we have to preserve energy.” – Touker Suleyman (Dragon’s Den).

“It’s never been an easier time, with the internet and mobile apps, that you can monitor [energy use] in real time.” – Jonathan Dowden (Sage One)

“I think that there are huge savings that you can make in smart metering. You can actually take really big steps to cut your bills.” – Bill Morrow (founder and CEO of Angels Den investment platform).

“Even if it’s just a start and you roll things out in a sequence…make sure everything is on standby or switched off.” – Annie Hunter (Consultant, How2)

“If you can be energy efficient and reduce your energy costs then, absolutely, every penny counts in a small business, in a growing business; therefore [energy saving] is vitally important.” – Brett Akker (Founder, Lovespace).

If you’d like further information on how your business can cut down on energy costs, feel free to contact the CH Systems team on 0208 302 8149 or info@chsystems.cc.

Source: Britishgas.co.uk – “Business leaders discuss how they cut down on energy bills.”