Whether you are running a small business, organisation, or even individual business, profits are the primary concern to consider. To make your business more profitable, you need to include ways to increase sales or revenue and decrease your costs.
But can you bring a profit with less investment in your business? Yes, you have to follow some wise steps, strategies, and the right members in your team. Without some specific ways, you cannot say that you are increasing the profits of your business.
Small business owners need to change their way of work to focus more on profit, according to Alexey Khobot, a known business consultant. He is a specialist in the field, helping CEOs and small to large businesses to re-engineer their business practices.
We share six effective strategies by Alexey Khobot, which small business owners can use to lower costs, boost profits, and enhance their bottom lines. These strategies will help to increase profits and improve the variables that finally ascertain your level of profitability.
Stay Clear and Connected:
The most crucial factor in making a maximum profit in business is to stay ahead of the competitor. It can be gained if you have accreditations, licenses, and certifications for your business or every particular member working with you. By doing this, you are clear, visible, and evident to the customers.
Now, how can you increase your visibility? So, take your business online with the help of social media, a website, or a blog to correlate with clients and deliver strategic support.
Moreover, you can apply advertisement sharing with equivalent businesses, discover methods to provide referral sales and benefit from affiliate marketing tools to push new consumers to your site. Try to exclude close and useless connections that may be hauling you downward.
Increase Your Cash Flow
Alexey Khobot, whenever consult a business, focus on educating the concerns to maximise their cash flow. One of the best techniques to gain a well-built cash flow is to give pre-paid payments or continuing payment methods for your customers.
For instance, despite a single consulting deal at $120 per hour for the whole day, twitch your contribution and proffer them a reduced 20-hour valet form at about $100 per hour. Although your hourly rate would be less in this case, you will be charging for a more significant total dollar amount.
It may not look as fruitful at the start, but it builds a connection and retains the door allowable for further work. Maintenance agreements for service-based businesses are added means to make a unique revenue path.
Rationalise Costs of Management
Management costs are considered the expensive ones as you will have to keep experts on these positions. It is related to your employees’ efficiency, the amount of customer leads you to get, and owed receivable in accounts. To bring out all these elements, you will have to automate the process of your business.
Provide a platform to employees for access and figure data, hold all information up-to-date and synchronised. Also, ensure to create back-office managing time into your project prices, hourly rates, or continuing costs. With automation, your business runs flatly and will support a scaled-down workforce to achieve more back-office work.
Push up the Marketing Bar
Cocktails and handshakes are the basis of networking, and this is all regarding quick actions. Try to give your business an immediate presence through online channels such as Facebook, Twitter, YouTube, Instagram, and LinkedIn.
Moreover, arrange group meetings, sales presentations, and exclusive promotions with the help of webinars. Also, provide tutorials and demos or new certification sessions for instant download.
Furthermore, count down all of your marketing efforts to recognise which one is cost-efficient. A software, Customer Relationship Management (CRM), can do this task connected to your accounts receivable order.
Make Every Person a Salesman
From phone to email and face-to-face meetings, all employees have the option to expand your company’s information and involve in a potential sales-generating course. Everyone obliges to plunge in to serve by lowering costs, selling, marketing, and much more.
Assume that you can make your employees funded and urged to sell your message by promoting self-development through roundtables, interviews, lunch meetings, and webinars.
Many youngsters want to study as well as earn money to meet their needs. The option that most of the youngster select for making money is an online business. Business is not accessible, whether it may be of any type, but online businesses have some advantages over having a physical shop.
If one starts a physical business, he or she has to pay a lot of expenses. These expenses may include warehouse rent or, if he buys it, telephone instalment, hiring staff, and assets for the shop. On the other hand, online shop requires a little know-how to internet technology, and all other is based on your skills.
Most people think that starting an online business is a get-rich-quick scheme. It is also not an easy job. You have to provide quality services and maintain your rating if you don’t want your business to stop.
Sofiya Machulskaya is a business consultant who recommends having an online business for youngsters. The reason for this, she said that in an online business, you only work whenever you want. Below are mentioned some online business ideas for the young generation through which they can continue their studies and also earn:
Dropshipping:
Many of you would not be familiar with this business. Dropshipping is selling someone’s products, and for each purchase, he gives you a commission. This needs no investment and has no expenses; all you do is to be online and find customers to sell the product.
Just think about the expenses of having a physical shop or selling your products; you will realize how cool dropshipping is. You don’t need a warehouse for the products. Just find the customer and send him the product from the store.
Become a Freelancer:
Freelancing is getting very common nowadays. Most people have started freelancing because of the lockdown. It is the best work you can do from home. As a freelancer, you can provide different types of services as per your skills.
If you have exceptional writing skills, you can provide writing services to many website owners and bloggers. You can also be a freelance developer or designer.
Teach an Online Course:
If you have a speciality in any subject, you can teach that online. Due to the closing of school during the pandemic, many students have started learning online. Teaching itself provides internal satisfaction, and you can earn money from it as well. You can also prepare soft notes for a subject and then sell them to the students.
Start a Blog:
To every writer, Sofiya Machulskaya recommends starting his blog. A blog is where you publish your writings. A blog needs to be monetized if you want to earn money from it. You can publish sponsored posts on your blog or can post third-party ads. You can also sell your product through the blog.
A blog remains on the internet forever unless you delete it. This means it can be a way to earn throughout your life. It also lets you practice your writing skills.
Become a Virtual Assistant:
A virtual assistant is just like a personal secretary. You have to organize the personal and professional life of an entrepreneur or a business executive. The duties have a wide range spreading from making a schedule to marketing management. All of the work is online.
Get international clients, and when you feel you are overburdened with tasks, start hiring new virtual assistants and train them. In this way, you can increase your profit.
Create Apps and Websites:
If you are good at computer technology, then starting an app development business is a good option. Nowadays, almost every entrepreneur wants to have his website and mobile app.
You can start creating websites or mobile apps for entrepreneurs directly. You may also make website themes and sell them to the website owners.
Final Words:
These were some of the online business ideas given by Sofiya Machulskaya to the young generation. Besides these, there are many other online businesses that you may start very quickly.
Like you can sell your art, become an affiliate marketer, publish your book, or create handmade goods and sell them online. The thing that you need to start these businesses is determination and hard work.
Read the latest London property news from property specialists, Spot Blue. Our experts handpick the latest stories to bring you the latest developments, opportunities, and news in London.
The stamp duty holiday on properties up to £500’000 started in July 2020 but has now been extended for 3 months. In the budget, the Stamp Duty Land Tax (SDTL) relief was extended until 30 June 2021. This means that buyers will have less cost when purchasing a property and can potentially afford a higher value purchase price. If you are in the market to buy your first or next home, now is a great time to take advantage of having no stamp duty to pay up to £500’000.
House Prices
UK house prices have been rising, up by 5.2% from last year. However, London’s property prices have not followed the national trend. London saw the average house price fall by £22,000 since last year. With house prices expected to rise this year, now is the time to invest in London property. Find out what property is available in London here.
5% Deposit
For first-time buyers, the government also announced guaranteed loans taking out a 95% mortgage on properties up to £600,000. So if you are looking to sell your property in London, now is a great time with more buyers able to afford London’s house prices.
Market Forecast
With current trends and news from the government’s 2021 budget, London house prices are “set to boom” according to Savills. In March 2021, the property experts announced that London’s property market will rise 12.6% by 2025. So house prices in London could be at their lowest now, meaning it’s a good time to invest.
40-Year Fixed-Rate Mortgage
In March, Habito announced its launch of the longest fixed mortgage in the UK. Their 40-year fixed-rate mortgage requires a minimum 10% deposit and interest rates are locked in for 40 years. This gives buyers more control and security when it comes to mortgages, which is expected to be a popular option in such uncertain times.
The Latest Advice
The latest London property news is all about the recent budget set out by the Chancellor on 3 March 2021. So our experts predict that government tax reliefs and mortgage support will mean that demand will increase. So we believe now is the perfect time to invest in properties in London.
In the corporate executive world, you are one person up against several others that are just as qualified as you. Quite possibly, they’ll have similar amounts of experience. It is a fine line between landing a good role and or promotion and not landing it. At the executive level, everything is intense, and as unemployment increases, executive roles will become harder to land.
So what’s the answer? Executive coaching, as offered by companies like CoachHub, can give you an edge that may prove vital in a post Covid-19 world.
Executive Coaching – A Better Understanding of Your Skills and Abilities
Gaining a better understanding of your skills and abilities and where they apply is a key advantage in the executive world. You’ll be able to provide clearer insights at interviews and appraisals, be able to bring a better game through the application of your abilities, and you’ll come across better at network events.
Insights into what you are good at will help you build a stronger personal brand, and you’ll be able to showcase yourself better both on paper and in person.
The better you can present yourself, ideas, and opinions, the more competitive you will be.
See the Talent in Others
With a high level of responsibility comes a high level of organisational planning. To keep at the cutting edge, you have to identify the strengths and weaknesses of your team. From here, you can help nurture and develop talent, which is great for the organisation you are working for, great for the team, and great for your career. Being able to spot and nurture talent is a sought after skill right now and will be in greater demand in the future.
If you can demonstrate a clear ability to do this, you will be more in demand than the executive who can’t.
Understanding Your Organisation
Being able to demonstrate a clear understanding of how your organisation operates and achieves its goals makes you come across as credible. This is everything in the executive world and scores plenty of kudos with the right people, which boosts your career.
Moreover, with this understanding, you can work more effectively, and you are in a better position for promotion. Time is money. The less of it an organisation spends in acclimatising an executive to a new position, the more valuable asset that executive is, and the quicker that organisation sees a return on that investment.
Ensure that you are a viable investment by learning every aspect of your organisation.
Personal Branding
Developing a high calibre personal brand is made possible through executive coaching. No matter how thorough we are when putting forward our personal brand, inevitably, we leave gaps. It is impossible to identify everything.
Unless, of course, you undergo executive coaching and learn to identify and sure up gaps in your brand. This can be the difference between having a rewarding career where everything drops right, or an unrewarding, unremarkable career.
The executive world is competitive. By using executive coaching, you can stand out from the competition and have a more fulfilling life.
Are you running a website or Business Digitally? Then you always need to be ranking your site in the search engine. We will provide the information in this article about the website ranking data collected by the cipd assignment help. You can visit that to get article like that.
SEO stands for search engine optimization; this service helps you to improve the performance of your website and give you the desired results. The SEO service helps you rank your website by Link Building, increasing optimization, creating keywords and many other techniques. Once the performance of your website is improved, your website automatically reaches higher rankings in search engine results.
There are different types of SEO
Technical SEO.
On-Page SEO.
Content SEO.
Off-Page SEO.
Local SEO.
Mobile SEO.
Ecommerce SEO.
Let’s see that who SEO can increase your website ranking.
Customer Demanding Site Development
SEO will help small business owners create a faster, smoother, and user-friendlier website. Although most people still hang on to the old definition of SEO, thinking that it is only about optimizing for the search engines, however, today SEO is also about improving user experience too.
Well-structured, clean, and uncluttered websites compel a casual visitor to stay longer, thereby decreasing bounce rate and increasing page views. Similarly, highly relevant content (sales pages and blog articles) keeps your readers happy as they are more likely to solve answer their questions, solve their pressing issues, and helps them find exactly what they’re looking for on your site.
On-page SEO, if done properly, makes your users happy, which makes search engines happy too as they love to serve high-quality information to their users.
SEO help to increase the traffic
The main aim of SEO is to increase the target customers to your website. Every business wants to reach prospective customers all around the world. Once you created your website, you want that more and more people visit your website and maintain good links with you. This can only be possible through San Diego SEO service. It helps you to increase the visibility of your website on search engines; through this, more and more traffic opens the link to your website and visits it frequently.
Helps to rank as compare to Competitors
Every business enterprise improves its operations and working to beat its competitor in all aspects. They want to increase their performance by providing quality products and services at affordable prices. In the same way, the competition goes on at the digital platform; people try to improve their website’s performance by providing quality content and regularly updating the services provided by them.
Thus SEO helps you increase your ranking on search engines, which will automatically make you one step ahead of your competitor Click here.
Give more than PPC ADS
PPC ads cost you money every time a user visits the page or clicks the link, but it is nothing like that in SEO. A person needs to make an investment of money only if you hire a digital market agency. Suppose you created a page and posted reliable and quality information on it. In that case, the engine finds it worthy of directing your content to the users and continuing to attract large traffic to your site. You need to update your page after a few weeks or next month, depending upon your business. One large prospective buyer reach your page, the services of SEO are worth paying.
SO you can built a strong presence in the digital world by using different tactics of SEO.
The task of driving more traffic to your website requires some amazing skills and techniques. No doubt, it is very important to drive traffic to your website to attract potential customers that would help your business to flourish. For this reason, marketers and website owners invest a lot of time and money to enhance their online presence and one of the most popular strategies used for this purpose is SEO.
SEO stands for Search Engine Optimization, it helps in improving the rank and visibility of a website in search results. Here are 7 effective SEO service techniques that could help drive more traffic to your website.
User-friendly
A user-friendly website is one that is easily navigable by the user and has a good web design as well. Websites with web designs are less likely not to get highly ranked by Google. Google determines your site’s quality, if your website is slow or outdated; you will not be able to rank good and might even lose some of your potential customers. So make sure that your website is user-friendly.
Voice Search
Don’t ignore the voice search feature. Almost 72% of people who use smartphones, admit that they use the voice search feature on a daily basis.
Target Locals
Around half of the searches on Google are related to local information. Therefore, you must consider local SEO as well to improve your business’s visibility.
Use YouTube SEO
YouTube is the second largest search engine but unfortunately, even SEO professionals outlook its importance. Make SEO-friendly videos by creating compelling video titles and descriptions with some powerful keywords.
Mobile Friendly
As more than half of the searches take place on mobile, therefore it is very important to ensure that your website is mobile-friendly. Also, Google itself announced in March 2020 that it will consider the mobile version of the website to crawl and rank websites. So it would be better to focus more on the mobile experience.
Create Backlinks
We all know how important links are in Search Engine Optimization. Broken or spam links can affect the ranking of your site negatively. However, sites with backlink profiles can be flagged for manual review and if your website couldn’t clear the manual review then you could find yourself in hot water. In order to avoid such a situation, try to make sure that your content consists of links from both bigger as well as smaller sites as it makes the website look more natural.
Evaluate SEO Performance
Monitoring your SEO results is yet another very important technique. Take out some time to monitor, evaluate and report your SEO performance as it will help you to pinpoint the areas where you are lacking. Also, it will allow you to improve your marketing strategies in the future.
These techniques are definitely going to help you improve your website’s visibility; still, if you want to seek professional guidance then there are a number of reliable SEO services that will improve your website’s rankings such as Grapefruit SEOagency.These services help businesses improve their search rankings and build a strategy that can be fruitful in getting more audience.
Since the news of the third lockdown, many business owners have shut their doors and employees have once more found themselves either working from home, or furloughed. Whilst an end date has been announced and it is almost a light at the end of the tunnel, it is still important to ensure that your business premises is completely safe whether no one is there, or if you are working on reduced staff.
Unfortunately, many closed shops, pubs and restaurants are being targeted for their alcohol and money as it is seen as an easy target in the eyes of criminals.
Following this rise in cases, UK Police are urging businesses to reinforce their security measures to prevent their businesses from being targeted.
In the following article, written in partnership with Brunel Fire & Security, leading Security Company Bristol, we will cover some of the most important security tips to help you deal with the security risks and have the peace of mind that your premises is safe.
Review your Security System
Making sure that you regularly review your security system and run a range of tests can be vitally important, especially as we are in lockdown. In fact, some systems allow you to do this remotely, meaning that you won’t have to travel unnecessarily.
If you are worried that your business premises is vulnerable to intruders, then it is important to speak to an expert, who’ll be able to advise you on the best security system for the space.
Consider Access Control Privileges
Access control systems can be an incredibly helpful method of dictating who does and doesn’t have access to your business premises. Such a system will allow you to revoke and set varying levels of access to different staff members. Therefore, you can allow only staff and personnel who are required to enter the business to have access, reducing the risk of potential theft.
Installing a CCTV System to Deter Crime
CCTV cameras are an excellent way to deter theft, especially those which allow for remote viewing and motion detecting. These systems are associated with reducing vehicle crime and property crime.
It can be a good idea to reposition cameras, if necessary, to cover both entrances and exits.
Keep The Space Lit
A great way to make your business premises look less empty is by keeping lights on within the building and around the perimeter. In fact, some building management systems will allow lights to come on with a timer system, making it much less inviting to potential intruders.
Ensure There is a Shutdown Checklist
If you still have employees visiting the building, or even if you are popping in yourself, to ensure everything is in order, it’s important to have a shutdown checklist. This will ensure that before the last person leaves, the building is left in the safest position possible. This checklist can include items such as;
Turn off all appliances,
Switch off all computers,
Turn on the alarm system,
Turn on lighting timers,
Turn down the thermostat.
Check Your Insurance and Make Sure Contact Information is Correct
It is important to take the time to read over and review your insurance documents to make sure that you have all of the necessary coverage that you need.
Also, make sure that, in the event of an alarm going off, relevant contact information is up to date and the individual listed is fully aware of their responsibilities and what they will need to do. Ensure that the person chosen is also in the vicinity of the building and has reliable means of accessing the business.
The current situation is already difficult for businesses, and the last thing you need as a business owner is a security breach. Such a situation could impact your business hugely and after all, prevention is always much better than a cure. We hope that the above tips have given you some idea as to how you can strengthen your business security measures and further protect both your staff and your premises as a whole.
Look close. Your best solution is inside your ecosystem.
Instead of toiling for days, take help and invest your resources that can be a game-changer in your startup.
There are multiple tools and software that can give the first boost that your venture needs. Following are some of the best-performing ones.
Top 5 Tools to Invest in Your Startup
There are two significant factors that determine the success of a startup. How you utilize your 1) time and 2) money. Since both are scarce for a startup, it makes complete sense why you need to growth-hack your process.
Following are a few tools that can help you optimize both your resources alike.
Ideation tools
This is the make or break point of every startup. No matter how disruptive your idea is, your idea isn’t going to manifest if there is no market to serve.
This could be your best business advisor at help in real-time. No matter what stage you are in your entrepreneurial journey, decision-making will shape your career. It ensures ambitious entrepreneurs like you have access to valuable advice from industry experts. It connects you with industry leaders from across the globe. This Community of experts can help you overcome any challenge that you might be facing. Whether it is growth hacking or fundraising, market research, training, or product building, this is a must-tool in an entrepreneur’s handy box.
It helps you keep track of your idea and always stay linked to its bigger picture. From validating seed ideas to sharing your vision, you are in control of everything. Germ helps to reiterate your business idea with time with a blueprint to follow with real-time support. You can develop actionable strategies with your why’s, what’s and how’s at the heart of everything you do.
Javelin speeds up the complete ideation workflow for lean startups. This is a one-stop solution for customer and market discovery.
Javelin helps you turn your idea hypothesis into concrete facts through validation. It allows you to find your target customer, their pain points, and most importantly, your product-market fit. This means validating your products is an absolute breeze.
It is needless to reinforce the importance your MVP has on the long-term success of your startup. From idea validation to product-market fit, your MVP can give you a lot of rich insights.
Following are a few tools that can help you launch your MVP as fast as today.
Managing design projects have become really easy with Foyr. This tool helps to complete designs two times faster and what’s more, it helps to enhance productivity levels by helping maintain a steady workflow of projects. Do away with all other complex tools and move to Foyr and see your unique design ideas transform into realistic renders.
Pro Tip: If you’re in an architecture and design industry vertical, there is a colossal difference in your go-to prototyping tool. Sketchup is a good option. However, if you want to try a good Sketchup alternative, you can always try. The goal here is to team up with the tool with which you are most comfortable using every day.
Building user-friendly websites Balsamiq is a true genius of user interactivity. If you’re at the stage of building low-fidelity wireframes, Balsamiq can help you achieve all your customer experience goals.
3. Launch tools
Launching a startup is a big deal for any startup. After all, it is the first test that your product passes through to find product-market fit. A lot of preparation goes into this.
From ideation to customer mapping to execution, multiple factors altogether make a successful launch. However, to give you traction, the following are a few lists of tools that can keep you on the right track.
With ProductHunt, you can never go wrong with your product launch. It is one of the best platforms to get your product in front of your audience.
What’s more, you can get the very first reviews about your products from tech-savvy enthusiasts. Having an operating mechanism a lot like Reddit, the website allows you real-time insights to see user comments and votes towards your product. The best part is that its massive community of testers willing to try out your product. This means you can get the first set of reviews about your product within a few hours of launch.
If you plan to do a pre-launch promotion of your product, Beta List is your best choice. This unique platform is developed to give your startup the ultimate traction for a successful launch.
But that is not the best part. Putting your startup idea in front of a community of savvy business enthusiasts is its real USP. This not only renders you valuable feedback but lets you develop an unfair advantage in the long run.
Helping over 3,000 startup founders fill the market needs gap, this platform uses qualitative and quantitative research to develop a product that your audience loves.
An early-stage buzz about your startup often leads to a short-lived surge in the sales funnel. Although this cannot be a long-term strategy, it has a high-value impact on short-term sales, something a startup launch always covets. It is your DIY press kit developer. This user-friendly platform makes PR look so easy that you have no reason not to engage more eyeballs in the digital space.
4. Marketing tools
Building a great product is one thing, and marketing it successfully is entirely another. Infact, as your venture grows, your marketing endeavor can often look like developing another completely different product. Taking help here is the smartest decision you can make. Automating marketing tasks not only streamlines your process but makes room for efficient strategy development.
Following are a few tools that can help you in your marketing venture.
Almost all businesses today consider data as the most crucial element of their decisions. Attest is precisely built to help you with this point. It simplifies the process of collecting useful customer data and makes market research efforts easier for everyone. With Attest, you get access to a variety of templates that will help you do your job effectively. Some prominent examples are the brand tracker template, jobs to be done survey template, etc. These templates are carefully designed to perfection and makes you redefine your market proposition by providing important insights.
This is the master tracker of your website traffic. It not only allows you to test your strategies but also provides a superior user experience. But the true power of Google Analytics lies in campaign monitoring.Planning and executing campaigns is super easy and fast, which keeps your campaigns agile.
5. Finance management tools
Managing finances might not be the reason you started a startup. But keeping the monetary flow in control is one of the critical points of keeping your startup running smoothly. Without money, your startup can’t float. To make this unproductive yet high-importance task easier for you, we’ve a few suggestions of tools.
If your startup idea is facing procrastination because of lack of capital, Foundersuite is your troubleshoot. This platform ensures that startup fundraising does not stay a monster anymore. Bringing structure, speed, and efficiency improves founder-investor relationships.
What’s more, it’s an in-built CRM tool that helps manage your investor funnel, a searchable venture capitalist database, and an investor updater tool for efficient monthly progress reports.
Gust is another strong alternative to Foundersuite.
This is your one-stop startup invoicing and accounting solution. Automating financial tasks like organizing expenses, invoicing, payment tracking, and follow-ups, FreshBooks keeps your startup accounting process fast, secure and convenient. Its integration capabilities with Mailchimp, Paypal, Basecamp, and Zenpayroll make it even more coveted.
InDinero is a strong alternative to Freshbooks to consider. The cloud-based accounting software’s on-demand CFO feature is what distinguishes it from the rest.
While all of the tools and software mentioned above can boost your per capita productivity, they cannot guarantee success. The most critical job of your startup depends on you. Tools can only help you achieve your goals in record time.
Stay mindful of every stakeholder that your business comprises. Be it your end customers or investors or startup development team, how you manage your people.
436,000 fewer consumers in 2020 switched energy supplier for better tariff amid pandemic
More than 50% of UK homeowners could be saving by switching from variable to fixed tariffs, totalling £2.6 billion in potential savings nationally according to Free Price Compare
Regionally the biggest collective savings to be made are in the South East at £345 million
With a price cap rise in April, variable tariff customers advised to switch to fixed rates
For the first time in six years, national figures show there has been a decrease in the number of UK homeowners changing their energy supplier to switch to a more competitive tariff, to lower their bills.
During 2020, amid the COVID-19 pandemic, there were 436,000 fewer consumers* making savings on their energy bills via comparison websites such as Free Price Compare – with the months of March through to December revealing a significant reduction in the amount of households switching provider compared to 2019.
This trend is surprising as the uncertainty of COVID-19 would lead many to believe consumers would be tightening their belts wherever possible, saving on costs in all areas of everyday spending.
With more than half of UK customers** still currently on an unnecessarily expensive variable energy tariff – a trend that has remained unchanged for the last five years – if everyone switched now to competitive fixed rates, utilising a comparison site, then collectively over £2.6 billion could be saved*** and instead pumped into local economies in times of need.
Regionally, the biggest collective savings to be made by customers switching from a variable to a fixed tariff are in the South East (the area covered by Seeboard) – at potentially over £345 million – whereas, in the entirety of Scotland it is just £85 million. For all regional statistics***, including the average annual bill of a fixed tariff versus a variable tariff in each region, visit: https://freepricecompare.com/home-energy/covid-19-impact-on-uk-energy-market/.
Director at Free Price Compare, Shailesh Ramani, said, “Switching energy provider to obtain a competitive fixed rate is a quick and hassle-free process, which can save most individuals an average of £318 if they are switching with us from a standard variable tariff. However, in the UK, so many homeowners are seemingly hesitant or reluctant to change supplier. It’s incredible to think that approximately £2.6 billion could be saved, if as a nation we were all aware of just how easy it is to switch and save.
“2020 was certainly a very difficult year for many, with COVID-19 having a negative impact on many household incomes. Although you would think this might mean more consumers reviewing their regular spending and monthly direct debits, when it comes to switching to cheaper energy tariffs with an alternative supplier, fewer people were doing so last year – in fact over 436,000 less than in 2019. This trend seems to be continuing into 2021, and could be purely because consumers have more important things on their minds than energy bills – despite the fact that savings could be considerable during such uncertain times when many of us are also working from home using more gas and electricity.
“With the recently announced price cap rise for default tariff customers now coming in as of the beginning of April, consumers are being urged to switch from a variable to a fixed tariff as soon as possible to avoid the higher rates and yet more costly bills.
“Currently some of the best deals on the market are dual fuel tariffs with E.ON, and I would encourage any homeowner to spend the five minutes it takes to look into, with no obligation, what they could be saving on a fixed tariff via Free Price Compare – the site that compares more energy suppliers than any other comparison website in the UK.”
To find out more about how to switch energy provider, in order to secure a more competitive tariff, go to www.freepricecompare.com.
Admiral Markets Review, published on the Traders Union website by financial experts and analysts, contains the fullest scope of information about all areas of activity of the broker: its trading conditions, investment and bonus programs, offers for partners and other features.
In Admiral Markets Review, you can find broker analysis by criteria and popularity dynamics among its customers, compare the broker’s key trading conditions with those of the competitors, look through customer reviews and trading conditions of Admiral Markets: minimum deposit and leverage, spread and minimum lot, order execution speed and peculiarities of working with the company.
Traders read Admiral Markets Review on the Traders Union website, as it is where you can find the fullest, most authentic expert information about the company in one place.
Admiral MarketsReview — methodology of broker analysis
Before publishing a detailed broker review, Traders Union financial experts study the company’s website, test registration and opening of trading accounts, perform trading transactions and check whether the real trading conditions on the account with the broker correspond to the ones the broker has published on its website.
In other words, Traders Union specialists conduct not only an external audit of the broker, but also perform an internal inspection of its services – this kind of serious professional approach to preparation of Admiral Markets Review by Traders Union guarantees that the information is up to date, which attracts attention of the beginners and professional traders.
During the so-called ‘audit’, the following criteria of the broker are checked:
● Technical. The broker’s website is studied: functionality of the Personal cabinet and the speed of operation of the broker’s services are checked.
● Trading. The broker’s trading platform is tested: its operation, features, instruments and additional features and possibilities.
● Service. Contact is established with the broker’s customer support: each channel of communication is checked for different issues; the speed and quality of responses of the support team are recorded.
● Financial. The timeframe for deposits and withdrawals is studied: payment systems the broker provides access to are checked, presence of non-trading commissions and their size are established.
● Legal. Regulatory documents of the broker are studied: client agreement, regulation on trading transactions and charging swaps, conditions of earning bonuses and the rules on filing claims.
Conclusion
Admiral Markets Review by Traders Union is regularly updated and published in different languages, which attracts traders from all over the world.
The key objective of Traders Union is to create an independent broker review, in which the traders will be able to find the fullest expert information in one place, without spending time on independent studying and checking of all services of the brokerage company.
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