Page last updated on 15th April 2025
Why it pays to know your bills
For small business owners, managing finances is a stressful job. But with a smart meter, automated meter readings can save you time and help you with your business budgeting.
Small businesses are losing money
Small businesses are losing thousands of pounds each year due to a “lack of time” to manage all their expenditure and outgoings.
Research commissioned by Smart Energy GB polled 500 SME owners and decision-makers. It reveals that small businesses are losing nearly £350 each month on average – equating to approximately £4,000 per year – due to not having enough time to review their spending. On top of this, 68% of small business owners claim they haven’t updated their approach to managing expenses in a significant period.
However, the majority (89%) are willing to adopt a new strategy, and 57% are already turning to technology to manage their business finances and boost productivity.
A smart meter could save your business time and money
One thing owners can do is get a smart meter installed, which can help them save both time and money. Smart meters send readings automatically to the energy supplier, putting an end to manual meter readings and estimated bills.
The data smart meters provide can help owners identify where cost savings could be made and help them have more control over their business’ energy spend. That’s good for cashflow and budgets!
How can I request a smart meter for my small business?
Simply enter your energy supplier in the box below and we’ll connect you. If your small business works with a Third Party Intermediary (TPI) or broker, please contact them directly to request your smart meter.
FAQs
What are the benefits of smart meters for my small business?
Smart meters can bring many benefits to small businesses, such as:
- They send your energy readings directly to your supplier, meaning accurate bills and an end to manual meter readings.
- Access to free and regular information on your energy use. Your energy supplier may provide this via an online platform, app, smart meter display or other data tools.
Whilst all energy suppliers may not supply an IHD, all small businesses with a smart meter or advanced meter do have access to free and regular information on their energy use. This could be via an app provided by your supplier, an online platform or other data tools.
How long does installation take?
Installations normally take about two hours and are arranged in advance so that you can make any necessary arrangements beforehand to ensure minimal disruption to your normal business operations.
You may also be interested in...
- Money saving tips for small businesses - our top tips to help your small business cut costs.
- The installation process - smart meters are available to many small businesses and installations are happening now. To find out if your small business is eligible, contact your energy supplier.
- How to request a smart meter - Find out how you can get a smart meter for your small business.
1Survey of 2,000 small business owners and decision-makers. Research carried out by OnePoll, 25th-29th July 2024.