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Rosie: This is a contributed post. If you’re looking for information about working from home expenses, you need my Essential Guide To Homeworking Expenses instead. I don’t necessarily endorse any contributed post 🙂
Cost-Savings: Tips to Achieve Energy Efficiency Explored
At the helm of a roaring business, you might as well be stuck between the age-old saying “spending money on your business is often the key to earning more of it” and your desire to save money to tide over future possibilities of cash scarcity.
Investing in significant energy upgrades might as well be your way out. Come to think of it! Energy efficiency is often synonymous with energy upgrades. Your savings and expenditures clearly go hand in hand in this regard. However, since energy upgrades generally come with hefty price tags, businesses often end up questioning the worth of these investments for long-term savings in the wake of the immediate demands associated with your business capital. So, what is it that you should do? Should you rule out the possibilities of long-term savings entirely? Or, should you just consider quick loans online to fund these immediate expenses in order to reap long-term benefits? Documented below are a few efficacious tips to achieve energy efficiency.
Start off with a thorough analysis
Your journey towards energy efficiency (and consequently to financial savings) initiates right from here. A thorough energy assessment is required to identify the ways in which your business utilizes energy. Energy consumption is complex. Identifying the total amount of energy consumed and unnecessarily wasted is complex as well. The key would be to collaborate with industry professionals who can actually leverage their access to highly refined tools, their own industry experience and expertise to identify cost-saving avenues. In this regard, the importance of pinpointing energy wastage cannot really be undermined at any cost. The energy experts in that way can help you identify opportunities to decrease consumption (and save money) both in your present and future.
Your Finances and Energy Goals
Very simply put, your energy goals are directly tied to your finances. If your financial status is ignored, then you will actually not be able to gauge the impact of energy expansions (structural or production-based) on your business finances. Have you figured out the way in which you would like to finance your energy expansion plans? While there are chances that you will be able to finance “limited” expansion plans with the help of fast cash loans, anything bigger on the cards – quite understandably- has to be sponsored by traditional bank loans.
In order to qualify for these loans, you have to furnish a strong credit history. So, it’s clearly time to work closely with your finance department and revisit your credit scores. If you think that you will not really be able to secure the best of financing opportunities with your present credit scores then you should take steps to fortify your finances in such a fashion that will authorize you to obtain more flexible financing opportunities in the form of better rates and more suitable terms and conditions.
Energy efficiency programs
Explore the opportunities already made available for you. There is – actually – a bevy of energy efficiency programs made available for businesses. Your responsibility would be to search them online and explore your chances of obtaining financial assistance while investing in energy upgrades. If you are approved by one of these programs, then your financial requirement associated with traditional financing will also lower. Energy Services Agreements (ESAs), State and Local Incentives and capital and operational leases are just a few notable programs that can help you out in this regard.
Do make sure that you’re educating yourself more about these programs. From zero up-front costs on the use of energy-efficient equipment to contractual replacement of outdated energy equipment—there’s a host of advantages to be explored in this regard.
This is a contributed post.