Advice for Businesses in the UK struggling to pay Utility Bills

At Boardroom Punks, we take an innovative new approach to helping businesses. We aim to work on every financial solution possible before the insolvency practitioners are called in. If you are seeking advice to help you navigate your issues with gas and electricity payments, be assured that we have your interests in mind. SMEs are the backbone of our local economy, and we want to ensure they are protected at all costs. Jobs, livelihoods, families, and futures are all interconnected with SMEs. The alternative approaches we offer are designed to protect both your business and lifestyle.

We have an elite team of financial experts that are serious about their trade. We have a variety of team members at Boardroom Punks with expertise in debt, VAT bills, business and project management, and government loans. Whatever advice you need regarding your utility bills, ensure that you have the right experts in your corner. We know how stressful it is to balance the costs of your business, especially if you are paying an excessive amount toward your monthly or annual utility bills. Whatever stage you may be at, the Boardroom Punks will do their very best to come to the best possible solutions for your company.

Not only do we have experience across the board, but our business model was founded upon our managing director David Morgan. In 2008 he received the news that his chain of opticians was trading insolvent. After battling with the liquidators and the loss of £250,000, Morgan dedicated his time to finding alternative solutions that would help with restructuring both his own business and the SMEs of the future. Today, Boardroom Punks is the solution that our director strived for, and we believe that we have the right tools in place to get any business back to a state where it can stand on its own two feet.

However, don’t just take the claims of expertise from ourselves. Our business experts have put their skills to the test in many different trading models. Beauty salons, haulage companies, decorators, and even jewellers have all needed the advice of Boardroom Punks. Whatever SME you are looking to salvage, know that our solutions have been tried and tested across many different businesses. Some of the cases we are currently working on include businesses in the fitness industry, window installation, and wine. We always encourage our future clients to reach out and speak to those who have worked with us, as they are the best proof of our success.

With the increase in the cost of energy, the profits of small businesses across the UK are being severely impacted. According to the latest 2022 government consensus, small businesses can expect to pay £4,114 annually on electricity alone. With this being only a fraction of a business’s total utility bill, it is not surprising that enterprises are seeking help to pay off these costs. In addition, companies are hesitant to expand their operations because of the impact it will have on their total utility bills. The same consensus also concluded that businesses with over 250 employees should expect to pay £14,495 on their annual electricity bill.

Though an enterprise may be able to steer around its utility bills in the short term, it will have a detrimental impact in the long run. An energy supplier may terminate gas and electricity for a business after only 30 days of payment failure. Though this circumstance is unlikely, it is still possible and worth bearing in mind. On top of this, failure to pay utility bills will impact a credit score. The absence of payment will be marked down as a default, meaning it may be difficult to obtain business loans in the future. In most cases.

In most cases, the energy supplier will consistently chase up a business to try and obtain payment. They may take a legal route and take a business to court. As well, a business may receive unexpected visits from debt collectors hired on behalf of the supplier. Most energy suppliers operating in the UK have the finances available to pursue the appropriate legal routes, unlike an independent creditor applying for a winding-up order. Businesses must be aware of the financial capabilities of their respective energy supplier.