Support and insights for manufacturing companies amid the energy crisis

The energy crisis in the UK has hit everyone hard. We’re all struggling with soaring energy bills and uncertainty about the future. Manufacturing companies, in particular SMBs, have really felt the squeeze over the past few months.

I started Workhorse with the goal of helping SMBs to grow and thrive, so I wanted to share some ideas for saving energy to help you stay on your feet through the winter and beyond.

There’s good and bad news

According to a study of 200 businesses, around 50% have seen their electricity bills increase over 100% in the last 12 months , and many expect the same thing to happen again in the coming year.?

Clearly, something needs to change in order for manufacturing to remain a thriving industry.

It’s not as simple as just switching off your lights in the evening to save energy.?

But this doesn’t mean there isn’t anything you can do to ensure the lights stay on (literally!).

Here are a few of the ideas I’ve collected to help you take actionable steps to reducing your energy costs.

SMBs can take advantage of off-peak rates

One of the big advantages of SMBs is how flexible they can be. Energy rates are cheaper between 10pm and 8am, as the demand on the National Grid is lower. So if running night shifts is a possibility for your SMB, it’s one that you may want to consider.

No one likes working nights and bear in mind that employees will be entitled to a higher level of compensation, but if you can swing it, doing even some of your business in the wee hours can lead to major savings.

Try a different manufacturing model

Running with the idea of flexibility, perhaps consider switching your manufacturing model to help combat rising prices.

For example, a Just-In-Case model involves keeping a higher level of resources in stock than you normally would. This allows you to have a sufficient level of backstock available in times when prices are higher, saving you money in the long run.

On the other end of the spectrum, a Just-In-Time model could also bring savings. This involves cutting down on the resources you’re ordering in times when prices are high. While this means you have less stock on hand for bigger projects, it does allow you to save on storage costs.

Stay on your toes and use agility to your advantage to cut costs wherever you can.

Give clean energy a try

While sourcing clean energy from suppliers is expensive, it is possible to create your own if you have the capacity to do so.

Solar panels are an incredibly simple way to reduce your reliance on energy companies and power various facets of your business.?

What’s more, if you’re harvesting more solar energy than your business uses, you can sell your excess energy back to the government. Win-win.

Keep your finger on the pulse

Keep yourself up to date with all of the latest news, both about energy specifically and global affairs, since they are often linked. By having an informed overview of what’s going on, you can stay one step ahead of any price hikes that may be coming your way.

Additionally, the government often steps in to ensure businesses can stay afloat during hard times. If you’re up to speed with everything going on, you’ll be better positioned to take advantage of what are often very limited schemes.

Workhorse can help

It’s genuinely my intention to help support SMBs through the good times and the bad. And Workhorse is my way of delivering on that mission.

We know how tough it can be to stay afloat and that’s why we want to help as many businesses as we can by introducing technology to streamline their processes. The way the platform works, and the way that clients can use it, are all designed to help keep your business cost-effective.

Send me an email ([email protected]) or a message on LinkedIn, and we can get through this uncertainty together.