As energy prices soar, Australian small businesses are grappling with rising operational costs, impacting their bottom lines. According to the June 2023 Energy Consumer Sentiment Survey by Energy Consumers Australia, 59% of small business owners are more worried about their electricity bills than they were a year ago.
This anxiety is compounded by a significant drop in confidence, with only 46% of small business owners believing that the energy market serves their long-term interests, down from 56% the previous year. Furthermore, only 60% of small business customers feel they are receiving value for their electricity service, a stark decrease from 75% a year ago.
Rising Energy Costs: A Call to Action
Jacqueline Crawshaw, interim CEO of Energy Consumers Australia, highlighted the acute awareness among small business owners about the escalating energy costs and the anticipated 30% rise in prices across the country. This pressing issue underscores the urgent need for clear communication and strategies to help small businesses navigate the energy transition and manage rising bills effectively.
Embracing Energy Efficiency Through Technology
Small businesses are increasingly turning to technology and energy efficiency measures to combat rising costs. Here are some key strategies being implemented:
Conducting Energy Audits: Identifying areas of inefficiency is the first step towards reducing energy consumption. Energy audits help pinpoint where energy is being wasted and suggest practical solutions.
Investing in Energy-Efficient Equipment: Upgrading to LED lighting, smart HVAC systems, and energy-efficient appliances can significantly lower energy usage.
Implementing Smart Technology: Using smart thermostats, automated lighting systems, and IoT devices to monitor and manage energy consumption in real-time.
Seeking Expert Advice and Support
Navigating the complex energy market can be daunting, but expert guidance can make a significant difference. Small businesses are increasingly seeking advice from energy consultants and brokers to:
- Understand the energy market and explore options.
- Implement tailored energy-saving solutions.
- Access government rebates and incentives for energy efficiency.
- Negotiate competitive energy contracts and pricing.
Prioritising Energy Management with AI
Rising energy costs are prompting small businesses to prioritise energy management. The survey revealed that while 59% are more concerned about paying electricity bills, nearly half have yet to take steps towards energy transition. However, those facing higher bills are more motivated to act on energy efficiency measures.
Leveraging AI and Technology
In the era of digital transformation, AI and advanced technologies play a crucial role in helping small businesses manage energy consumption. Microsoft’s Copilot, an AI-powered tool, offers several benefits:
- Efficiency and Productivity: Copilot helps streamline tasks that couldn’t be automated before, improving overall productivity.
- Data Protection: Copilot ensures commercial data protection, preventing data leakage and maintaining privacy.
- Tailored Guidance: With the power of GPT-4, Copilot provides custom answers and follow-up questions, ensuring businesses get the precise information they need.
- Cost Management: By summarizing long articles, drafting emails, and generating reports, Copilot saves valuable time and reduces operational costs.
Enhancing Workspace Efficiency
Cloud Services: Utilise cloud storage and computing to reduce physical infrastructure costs and enhance data accessibility and collaboration.
Unified Communications: Integrate tools like Microsoft Teams for seamless communication and collaboration, reducing the need for physical meetings and travel.
Automated Workflows: Implement AI-powered tools to automate routine tasks, freeing up time for more strategic activities.
Online 3: Your Partner in Navigating Energy Efficiency
For small businesses looking to optimize their energy usage and integrate AI solutions, Online 3 offers comprehensive support packages:
- Support 1 – Essentials: Includes unlimited remote support, Microsoft Cloud Services Support, Cloud Identity Management, and Cloud Mentoring at $59.00 per user.
- Support 2 – Professional: Adds Managed Device Support, Network Support, and Virtual CIO Services at $79.00 per user.
- Support 3 – Expert: Extends to Teams Phone System Support, Dynamics 365 Support, and more at $109.00 per user.
With Online 3, small businesses can achieve a balance of security, productivity, and connectivity, ensuring they stay competitive in a challenging economic landscape.
