Gas company Flogas has recently conducted a new report which revealed that SMEs in Wales, Scotland, and England are wasting more than £1.7 billion a year simply by choosing not to switch their gas supplier. This includes businesses like manufacturing buildings, offices, warehouses, restaurants, and public sector buildings, which are currently spending a huge £7.1 billion on gas- and it turns out that this is 24.4% more than they actually need to.

To put this in real-world terms, if your business spends £10,000 on gas every year, by switching supplier you could save around £2,400, which works out to be £200 each month. What would you do if you had an extra £2,400 to play with for your business each year?

While there are huge savings to be made, the report found that 32% of the businesses surveyed had no idea they could save money by simply switching suppliers. 23% also assumed that it would be too complicated or time-consuming to change their suppliers as well.

10% of business owners said they “couldn’t be bothered” switching, while 13% are procrastinating, saying they would like to switch but haven’t yet got round to it.

Businesses located in the North-West of England turned out to be wasting the most money with their current supplier, followed by businesses in Humberside, London, and Yorkshire who waste more than SMEs located throughout the entire country of Scotland.

Since businesses are continually facing increasing pressure to increase profits, cutting costs is an excellent way to do this, and reducing the cost of energy seems like an easy win. 54% of the businesses that Flogas surveyed said that the number one way to reduce overheads was by reducing energy costs.

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Pete Ablett is Flogas’ Commercial Director, and he says that many businesses are unaware that they’re throwing money away by choosing not to switch providers. He also says that the most common reason why many businesses aren’t switching is that they’re simply unaware that they have a cheaper alternative available, or assume that it’s complicated to switch. Flogas is sharing the figures from its report to show people how much money they could save by simply switching to a cheaper provider for their gas bottles.

Businesses could be saving approximately 24% on gas each year, and it’s simple to switch to Flogas. All you need to do is let the company know you’d like to switch, and they’ll handle everything at their end- you won’t even need to tell your old supplier.

While you’re comparing gas suppliers, consider taking some time to see if you can get a better deal elsewhere for other parts of your business. Maybe you can find cheaper insurance coverage, product or food suppliers, or something similar. If you’re aiming to increase profits in 2017, cutting costs is one of the best ways to do that- and switching suppliers is an easy way to have more in your pocket each month.