Time-pressed small business owners are missing out on key savings and paying unnecessarily high energy bills, new research from business energy supplier Opus Energy has found

According to the Opus Energy Business Boost Report, 81% of SMEs do not shop around for better deals when their energy contract comes up for renewal.

More than one in ten (12%) of SMEs have never switched energy suppliers and 24% are stuck on out-of-contract rates and potentially paying more than needed for their energy supply.

In addition, while 51% of SMEs already have smart meters, a fifth do not know how to use or find the data provided by their meter.

More than 50% of SMEs say that time pressures are one of their biggest constraints and 71% have to cover multiple roles as part of their job.

Opus Energy director Louise Boland said: “We know that many SMEs are busy getting on with the day job and, with so many of them having to cover multiple roles and facing time pressures, it’s easy to see how something like making sure they’re not on expensive out-of-contract rates may fall to the bottom of the list.

“We’d urge companies to check whether they’re being supplied on expensive out-of-contract rates, and to shop around for a great fixed rate contact. This can only be a good thing for their bottom lines and long-term business success.”

The company has launched a competition to help one SME boost its bottom line with a £10,000 marketing package, including £5,000 of advertising space, a press advert and marketing advice. To enter visit www.opusenergygift.com/boost