TThe print industry is facing the stark reality of the energy crisis. This impact on the global economy is affecting many businesses, with rising energy costs and material prices posing a threat to everybody, from small family-run printing agencies to worldwide players. From the war in Ukraine, government budget cuts, and supply disruption – factories and family homes have all seen a sharp increase in their respective energy bills. There aren’t enough Martin Lewis tips and tricks in the world to make this type of situation just go away. But if tackled correctly, then a business can certainly look to defeat rising energy prices by being logical and astute to the support available. The energy crisis has no doubt contributed to the expensive increase on the price of paper, with the print industry needing to get smarter if it wants to keep up with costs and stay in control of energy consumption. You might be thinking, what can your business do to make such a quick turnaround; especially when it’s facing different challenges on a daily basis. Operating in a more streamlined way, focusing on being more mindful of energy usage, or even simple things such as installing office smart meters can go a long way towards making a positive step when it comes to managing energy. A helping hand Acting as a helpful tool for many businesses in the print industry, Compass Business Finance (Compass) wants to see its customers thrive as it creates solutions that are bespoke to your business. Compass is aware of just how rapidly changing the print and packaging sector can be, with its team of specialists using vast experience in the industry to help companies secure funding for when they need it most. In September 2022, the company created a practical guide that was ideal for helping businesses mitigate the energy crisis. It’s full of great information and resources that aim to keep you on top of energy use with the hope that you can build a greener culture around the office space or on the factory floor. The energy crisis is backing businesses into a corner, with many expected to take direct action to mitigate rising costs. Companies must also face other challenges such as supply chain issues and logistical problems brought on by the recent strikes. The help guide that Compass has created can be a savvy tool for your business. In the guide, Compass says: “The world economy has suffered many an energy crisis before, with the usual culprits (as today) being war, fuel shortages, and market pressures or manipulation. Today, the UK may be less exposed than its Tackling the Energy Crisis January / February 2023 33 The energy crisis is well and truly upon us, with businesses small and large feeling the effects. Stephen Jones looks at some ways to tackle rising energy costs and what support is available Positive Energy
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