For business owners, managing your energy consumption is no longer just about keeping tabs on your outgoings – it’s a prerequisite for doing business. Consumer-facing companies that aren’t seen to be environmentally responsible face losing customers, while those further up the supply chain are now being asked by prospective clients to prove their green credentials.

Putting sustainability into practice should now be at the top of the agenda across every industry. Companies are becoming increasingly bold in how they communicate this to customers and stakeholders; at the end of January, The Guardian reinforced its commitment to reducing its carbon footprint by announcing a ban on advertising from fossil fuel firms.

For most business owners, however, it needn’t be that complicated. One of the simplest ways to reduce your impact on the planet and improve your bottom line is by switching to renewable energy and being smart with the energy you use. But how do we navigate the sea of information out there and find a solution that truly works for you and your company?

In this article, the experts at Opus Energy, one of the leading providers of renewable energy to businesses, gives 5 top tips on how to become more sustainable and save some money in the process. All of these can be scaled in a way that works for you – no matter what size your business is.

Start small

Implementing more sustainable practices into your business needn’t break the bank. In fact, there are plenty of small steps you can take that, when measured over time, end up going a long way. For example, did you know that turning the office heating down by 1°C you can reduce your annual heating bill by up to 8%? So, if your business spends £500 a month on energy, that small turn of the dial would save you £480 each year – the equivalent of one month’s energy.

Similar savings can be made across other aspects of your business. Take electricity costs for lighting as another example: leaving the lights on in the meeting room never seems like a big deal – but, by using motion sensitive lighting you could save enough energy to make up to 300 cups of tea. Likewise, using energy-efficient lighting can save businesses about £1,500 a year.

Another tip is to have a company-wide switch off policy. While it may seem trivial, leaving 50 computers on overnight for a year would create enough CO2 to fill a double decker bus – and cost your business £1.76 a day.

Company cars: Choose the right vehicle

While a lot has been said about leveraging the benefits of car-pooling and subscription-based mobility services, the use of cars for some companies is an unavoidable part of doing business. If your business offers company cars to your employees, it pays to ask yourself the right questions when deciding on what vehicles to go for. How long will your drivers be on the road for and what distances will they be covering? Will they be driving in city centres where Clean Air Zones are in place? And if they were to drive an electric vehicle (EV), would they have access to charging points along the way?

Taking all of this into consideration is key in saving money and reducing emissions, as it can make a huge difference in determining the correct type of vehicle necessary.

It’s also crucial that you look at the whole life costs when choosing a vehicle. It’s easy to focus on the headline sticker price – this is often the case when looking at EVs which in the past have carried a heftier price tag – but there are many other costs involved, from taxes and insurance to fuel and vehicle depreciation. So, when you add all of these up, you might find that switching to an EV fleet isn’t as expensive as you thought.

What’s more, EVs are becoming increasingly affordable, so there’s never been a better time to think of making the switch. They offer two solutions at once: reducing exhaust-related emissions and reducing the use of fossil-derived fuels. By switching your business-use vehicles, including fleet vehicles, to EVs, you can make a drastic cut your carbon footprint.

Use a smart meter

The UK Government estimates that installing energy efficiency measures could reduce the energy costs for SMEs by between 18% and 25%. One such example of this is the smart meter, which gives SME owners access to vast quantities of real-time data-related insights into how and where they use their energy. This transparency allows businesses to be smarter and more energy efficient, providing them with an easy way to be more sustainable.

Smart meters are also the backbone of the Smart Grid, which will play a significant role in the UK Government’s commitment to reducing carbon emissions to net-zero by 2050 by ensuring that supply and demand are always in balance. For companies looking to be proactive in their efforts to cut their carbon footprint and play their part, the smart meter is a savvy move.

Invest in renewables

If you’ve already switched your energy supply to a more environmentally friendly tariff or provider, why not look into generating your own renewable power? If you are able to, installing solar panels are a cost-effective way of ensuring the energy your office or building uses is completely renewable.

Making this switch to renewable energy can reduce not only your environmental impact but contribute towards the wider decarbonisation across the UK’s electricity network. It’s also a way for your business to diversify, by bringing in a new stream of revenue. If done right, it can be low effort, high impact and great for the environment.

Think long term

When it comes to saving money through sustainable practices, it’s crucial that we train ourselves to think long-term, rather than simply thinking about immediate gains. The change associated with moving towards sustainability can often be a deterrent for business owners, as there is a perception that these come at a large cost. But making small changes really can pay off in a big way, both for the environment and your bottom line.

Every business is different, but by taking inspiration from the tips above and combining this with your own research, you should be able to find ways that work for you and your budget.

80% of employees hoped that tech-enabled remote working capabilities would give them better work-life balance.

However the reality is far different, with almost half (42%) claiming that new smart working practices are negatively impacting their work-life balance.

The findings come from a recent survey of 2,000 professionals carried out by staffing business Walters People.

Companies are becoming increasingly digitally focussed

The business reason for digitally transforming a workplace makes sense, with three quarters (72%) of employers believing tech helps to improve workflow and overall staff productivity.

Other reasons companies state the need for a more tech-centric workplace include to strengthen collaboration between staff and improve communications (58%), remain competitive in an increasing digitally-focussed global environment (54%), help track results and streamline decision-making (22%), and attract and retain talent (17%).

Lucy Bisset, Director of Walters People Manchester comments: “Advances in technology have already changed the way companies and employees work. With teams more dispersed and covering more time zones, working with others via phone, virtual meetings and video has become a norm.

“Adopting a digital workplace has also helped companies streamline operations and enhance speed of communication, as well as accessing the information in a much more effective way.”

Buy-in from employees

85% of employees agree their productivity would be enhanced by technology, with a further 80% claiming working for a tech-savvy company would boost their morale, and 78% agreeing that tech would help enhance coordination between departments.

However, whilst the aim of digital transformation is to create a ‘smarter working’ environment it brings with it some challenges. The biggest fear from employees is the expectation to “always be on.” In fact, almost half (42%) believe tech negatively impacts their work-life balance and doesn’t allow them an opportunity to switch-off.

Further concerns include the struggle to learn and apply new technologies (31%) and the fear of technologies replacing jobs (22%).

Lucy Bisset adds: “Digital transformation of the workplace should be a top-down initiative; executive support and adoption is crucial – especially when trying to prove the commercial and rational benefits for both the organisation and the individual.

“All too often in companies we see senior leaders stick to their traditional working methods whilst expecting employees to accommodate this; as well as new, innovative processes introduced by the IT department.

“The solution is simple; if there is a new intranet or instant messaging platform introduced then the senior business executives should communicate via these means regularly. If the business has moved towards a cloud-based sharing system – then managers need to ensure that they are the primary users which will naturally drive employees to adopt these practices.”

Older workers playing catch-up

Whilst half (44%) of Millennials state that employers should adopt the latest technologies, this is significantly lower for Generation X (25%) and Baby Boomers (11%).

In fact, an overwhelming 60% of Generation X and Baby Boomers admitted to fearing the introduction of new technologies, with a third (35%) stating that they are yet to get a full grasp of current technologies used in the workplace.

What is worrying is that Millennials widely perceive technology to be at the root of workplace conflicts.

A third of Millennials (34%) reported that older workers not understanding new technology was the chief cause of conflicts in the workplace, followed by younger workers becoming frustrated at using outdated technology (33%).

Millennial professionals are also distinct from their older colleagues in their attitudes towards social media. Almost 40% of Millennials felt that employers should actively encourage workers to incorporate social media into their work, compared to less than a quarter (24%) of Generation X and just 10% of Baby Boomers.

Lucy Bisset shares her top tips to improve the rate of adoption for nee technology:

1. Choose technology wisely: When you’re shopping around for a new technology — be it a customer relationship management (CRM) program or software to better manage employee timesheets — bear your team’s interests in mind. Functionality is critical, but so is user-friendliness. Technologies that require multi-day training programs and hefty user manuals are a sure-fire recipe for stalled adoption.
2. Communicate it properly as soon as possible: In the early stages, start by encouraging employees to submit their opinions about the technology you want to introduce. This will help the idea gain acceptance by the people who will use it the most. You will also need to ensure that each employee who will be affected, understands how the changes will help them in the long run. Involve each of them in every stage of decision making and let them know the importance of it to business growth. Acceptance of new technology in the workplace is a crucial stage for effective performance and accurate feedback.
3. Highlight the Benefits: Technology can do so much to make our lives easier, but the process of learning new technology can still be daunting. To ensure team members are bought in, help them understand the decision to implement new technology. Identify the limitations or problems in the current processes. Help them see how technology could solve those problems and make their job run smoother. Although fear is normal in the face of change, we can’t let fear stop us from making a good decision. Ultimately, technology will make their job easier and allow them to be more productive, but employees may need help to see past any perceived short-term pain to the long-term vision.
4. Give your employees time to get used to the idea: Before you implement any new process or software, give your employees a few months to understand what you are changing and why. Talk about the benefits to your employees (rather than just the business itself) and let them know they are welcome to ask as many questions as they like to ensure they have all the information. Be transparent and open, don’t leave things out because trust is what is going to be most valuable between you and your employees.
5. Slowly introduce new concepts: If you can introduce your employees to your new software in phases, it’s less likely to be overwhelming for them. Depending on the system and size of your company, it can sometimes take a year or more to get all of your employees to use a new piece of tech, so be prepared to factor that into your timeframes.
6. Have champions: There are always people who readily accept new technology. These are your champions and influencers. They can help convince reluctant co-workers where no one else can. The champions act as the early adopters of the technology and can aid in the training and the support of other team members. The more individuals that fall within this category of genuine champion, the easier the transition will be to company or department-wide acceptance.
7. Customise training: Familiarity with and interest in digital technology varies widely among employees and so your training efforts should reflect those differences. Some employees might prefer an online training session; others might need a bit more handholding and support in the form of a personal coach.
8. Listen to feedback: Develop a system of collaborative communication targeting the employees’ perceptions, concerns, and experiences with the new technology. The environment must feel safe for employees to voice their opinions truthfully, so it may be worthwhile to set up an anonymous survey that users can complete, or appoint a group representative that employees trust to communicate the general sentiment about the new technology.
9. Highlight quick wins: Once employees begin to use the technology more and more, draw attention to the positive impact it’s having on your organization. Publicising quick wins helps build a case for change.
10. Talk about it during the on-boarding process: New employees can be a great starting point if your older employees are reluctant to budge because they are already in a position to adopt new processes. Start new employees off on the new system and encourage them to use the new technology on a regular basis to phase out the older process.
11. Give It Enough Time: Implementing and adopting new technology won’t be easy for your team. One of the reasons for the failure of most adoption is the assumption that technology will be easily integrated into company culture and start to give positive results immediately. You should rethink this and set long-term expectations. To start with, you should be prepared for errors and misunderstandings. Research about the average performance of the introduced technology and the expectation based on the resources you have. Allow employees to embrace it slowly and ensure you set targets and realistic expectations
12. Evaluate the Performance: When introducing new technology to your organisation, it is crucial to measure the performance, results, the return on investment (ROI), the impact on the users and so on. The measures can then be deployed to identify the minor and major problem areas and how to make it work more efficiently for your business procedures. Set the tracks so as to be able to compare the performance before and after the introduction. Be open to the feedback and criticisms from your employees and ensure the suitable environment for their candid feedback.

The UK’s eCommerce market, currently the third largest in the world, is set to be worth £319.8 billion by 2023, according to a new report from FIS™ (NYSE: FIS), a global leader in financial services technology.

The newly released Worldpay from FIS 2020 Global Payments Report found that eCommerce growth in the U.K. is being fueled by online sales through mobile devices, which are increasing 13 percent per year, while desktop-based purchases are advancing at six percent. Meanwhile, “Buy Now, Pay Later” (BNPL) services are the fastest-growing online payment method in the UK, growing twice as quickly as bank transfers and more than three times the rate of annual growth in digital wallets, according to the new report.

The Worldpay data shows that BNPL options are growing 39 percent in the UK and are on course to double their market share of online purchases in the country by 2023.[1] BNPL payment services such as Afterpay or Klarna allows consumers to delay payment or to pay by installments over a set period.

The new Worldpay report highlights the growth of digital wallets in the U.K., which are set to become the most popular online payment method by 2023, accounting for 33 percent of the market. Digital wallets are also the fastest growing payment method in-store, growing 20 percent annually, the new report found.1 Globally, digital wallets are forecasted to grow to 52 percent of the eCommerce market by 2023, according to the new Worldpay report.1

“Convenience is the driving force behind the boom in digital and mobile wallets,” said Shane Happach, EVP, head of global eCommerce, Worldpay Merchant Solutions, FIS. “Global consumers now expect convenient and connected, omnichannel experiences. ‘Buy Now, Pay Later’ delivers a more intuitive level of convenience and access for consumers than traditional credit cards. As digitally savvy Gen Z consumers come of age, this is especially significant as younger consumers are more used to making snap purchases and then deciding later if they want to keep it.”

While Britons are not likely to go cashless in the near future, the new FIS report shows that digital and card-based payments are rapidly becoming the preferred choice across all sales channels. In the UK, cash is in steep decline at a rate of -10 percent annually and is predicted to account for only 16 percent of offline sales by 2023.1

“We are reaching a tipping point for eCommerce,” Happach said. “Advanced technologies from voice-enabled commerce to biometric verification are maturing at the same time as digitally native demographics are coming of age and becoming regular consumers. Merchants looking to remain relevant must establish user-friendly applications, deploy omnichannel best-practices that deliver personalization at scale, and reduce friction through the shopping experience.”

Commenting on today’s UK CPI data, Andy Scott, Associate Director at Chatham Financial, said: “Sterling recovered some of its early session losses following inflation data that showed consumer prices rose at a stronger than expected pace last month. The data adds weight to the argument against the Bank of England cutting interest rates, following a significant rebound in the monthly data on the economy since December’s election. While the jump higher in January’s CPI number doesn’t in itself mean an end to the two-year downtrend in the pace of inflation, there were signs of upwards pressure on future prices that will likely put an end to any discussions of an imminent rate.

“Sterling is trading close to its highest levels since the Brexit referendum result in 2016 against a number of its G10 counterparts, including the Euro, which is weakening due a recession in German manufacturing. The reduction in UK political instability and increased certainty over Brexit have driven renewed interest in the UK currency, along with an upturn in optimism over the UK economy. With the Eurozone economy bogged down by continued headwinds from the numerous challenges facing the manufacturing sector, there is a lot of potential for Sterling to gain further against the Euro in the months ahead, particularly if the Boris bounce translates into a meaningful economic rebound.”

The value of British goods sold to countries outside of the EU increased throughout 2019, according to Lloyds Bank Commercial Bank. The increase helped offset the falling value of UK exports to the continent.

While analysis of the latest trade figures from HMRC revealed that the EU is still the UK’s single largest trading partner, the value of British goods exported to the continent fell from £173.3 billion in the year ending Q1 2019 to £168.5 billion in the year ending Q3 2019, according to the Lloyds Bank International Trade Index.

Prior to this, the value of UK goods exported to the EU had grown consistently since 2016.

The Index, compiled in partnership with IHS Markit, showed that the UK sold £177.1 billion of goods to markets outside the EU in the year ending Q3 2019, up from £170.9 billion in the year ending Q1 2019.

Accounting for the trend, the report shows over the last three years, UK exports to Asia and the USA have grown at a compounded rate of 11.3% and 7.7% respectively, while new exports orders to the EU grew by just 6.9% per year.

The value of British exports to the UK’s top 10 markets in Asia grew over the same three-year period. Whisky and spirits exports grew rapidly, with sales to Vietnam and India increasing by 204% and 73% respectively.

The Lloyds Bank International Trade Index also found economic contraction in Europe contrasted with the performance of countries outside the EU in the final quarter of 2019, highlighting further opportunities for UK exporters in far-away markets in 2020.

According to IHS Markit PMI data, the economies of Germany and the Netherlands – two of the top five destinations for UK exports – softened for the first time in over six years.

Germany’s PMI for Q4 2019 was 49.7, down from 50.3 in Q3, while the Netherlands saw an index of 48.5 in Q4. Weaker economic conditions were also recorded in Italy, Austria, Poland and the Czech Republic (49.8, 46.8, 45.9, 44.8). A reading of above 50 indicates growth, while one below 50 signifies a decrease.

Meanwhile, economic growth was measured in the USA (51.9) and China (52.6), and across Asia (51.1) between October and December.

Gwynne Master, managing director and global head of trade for Lloyds Bank Global Transaction Banking, said: “It’s encouraging to see that UK exporters aren’t limiting themselves to markets close to home. The fluctuating economic environment could prompt more businesses to take advantage of a diverse range of overseas markets, which in turn will hopefully enable increased sales and revenue for UK exporters.

“Last year, tension between the world’s biggest economies undoubtably had an impact on global trade. Productive talks and a new deal between China and the US signed last month could represent the start of this tension dissipating, creating further opportunities for UK exporters.”

The Lloyds Bank International Trade Index brings together export growth and supply chain indicators to provide timely insights into the challenges and opportunities for UK exporters.