Carbon accounting software helps SMEs reduce energy costs

News Article - 25 June 2008
Category: Environment

Carbon

accounting software
can help the thousands of small businesses in Britain facing potential fuel poverty.

A new study by Electricity4business found that one in five British small firms are now in fuel poverty, with a further one in four on the brink.

Businesses struggling to meet soaring energy bills can adopt carbonaccounting software in order to identify savings and reduce their impact on the environment.

Many small and medium-sized enterprises (SMEs) in Britain are struggling to cope as the price of oil continues to reach record levels and analysts are predicting a further 20 per cent rise in energy bills by the end of the year.

The Electricity4business research discovered that 25 per cent of small firms are worried about keeping lights on and electricity is now the second highest cost for SMEs.

Graham Paul, E4B sales and marketing director, warned: "Literally thousands of businesses will be unable to switch supplier to get the cheapest price and take advantage of the savings made, because they don't know their renewal date."

Small businesses are advised to shop around for the cheapest energy deal, reduce their electricity consumption and examine their bills to understand what they are paying.

Firms can also reduce carbon emissions and improve their green credentials by implementing technology such as video conferencing to reduce travel costs.

Article keywords: The Institute of Chartered Accountants in England and Wales (ICAEW)' corporate finance department has voiced plans to grow its membership numbers to 10, 000.<br/><br/>At the faculty's annual dinner and in celebration of its ten-year anniversary, chairman Chris Ward announced proposals to increase member numbers from 6, 000 to 10, 000, adding that the department would like to see the addition of new members from backgrounds other than chartered accountancy.<br/><br/>Accountancy Age reports that the faculty also awarded its corporate financier of the year title and the award for outstanding achievement to two investment bankers from the City.<br/><br/>David Wormsley, head of UK Investment Banking at Citigroup, won the outstanding achievement award after generating &#163;19.9 million in deals, while Kevin Smith, managing director of Merrill Lynch, made more than &#163;20 billion in deals to claim the corporate financier of the year title, the website reports.<br/><br/>Guest speaker at the event was Andy Hornby, chief executive of HBOS.<br/>

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