" "

Energy costs and sustainability

Manage rising energy costs

The extraordinary rise in wholesale gas and electricity prices is being felt by both households and businesses. But unlike consumers, businesses don’t have an energy price cap and are not eligible for the government’s Energy Bills Support Scheme. As day-to-day essentials like heating premises, running equipment and making deliveries become more expensive, we have some tips to help you manage rising energy costs.

5 ways SMEs can manage energy prices

Couple reviewing paper bills
Installer fitting solar panels on roof

Why it could pay to go green

While businesses may understandably be concerned about the financial impact of being more eco-friendly, choosing the right investments could reduce costs in the long term.

6 reasons it pays to go green

Reduce costs through sustainability

Find out how transitioning to low-carbon, sustainable business models and pursuing clean growth opportunities can help you reduce costs.

Vew our sustainability hub

 

Discounted borrowing costs

Get discounted lending for green purposes through Lloyds Bank’s Clean Growth Financing Initiative. 

Reduce energy costs

Our Green Buildings Tool is an interactive digital tool that can help you identify energy-efficient investments in your buildings.

Pay As You Grow

Additional support for businesses with a Bounce Back Loan, giving you flexibility and more time to pay back your loan should you need it.

More about Pay As You Grow

Managing business costs

How to reduce costs

When inflation rises, so do business costs. There are a number of strategies you can use to limit the impact, both in the short and long term. From reviewing travel budgets and cutting down wastage to reimagining office space and investing in green technologies, we have some ideas to help.

Navigating rising inflation and business costs

Surprising ways to reduce your business costs

someone using a calculator
Man working at laptop

When is it time to put your prices up?

When costs are increasing as they have been for the past few months, keeping your business profitable and resilient can be challenging. Deciding that you need to raise your prices has a financial impact on your customers so it's something that needs careful consideration.

When should I raise my prices?

Improving your cash flow

Ways to manage short term cash-flow pressures

Running out of cash can be a problem for many businesses, especially during the current economic climate. Late payment can leave you unable to pay your suppliers and staff, or cover overheads. Every business needs funds to purchase goods and services and these will often be held as stock until they are sold, so there may be a period of credit before the end customer pays.

From good forecasting, scenario planning and getting paid promptly, there are ways to inject cash into your business and better manage your cash flow through financial products that may be less costly than an overdraft.

9 ways to manage cash flow

a lady on a laptop

Release funds from unpaid invoices

Get an advance of up to 90% of the invoice cash value, usually within 24 hours with Invoice Finance.

Invoice Finance

Arrange flexible short-term borrowing

Overdrafts offer a useful safety net giving you extra funds when you need them for day-to-day spending.*

Overdraft

Leverage opportunities for interest-free credit

Cards offer a cost-effective way to prevent expenses disrupting cash flow with up to 45 days interest-free credit.

Cards

Identifying and managing risk

Many businesses aren't aware of the risks they're exposed to when they import, export, borrow or save. It’s therefore helpful to understand these risks and find solutions to protect your business against cash-flow issues or reduced profitability.

When trading internationally, you can protect your business against the risk of not getting paid or receiving goods and services, as well as fluctuations in currency exchange rates which could impact profit margins.

Finding ways to manage the cost of borrowing for your business can have a positive impact on your cash flow and profitability, helping to protect your business against unexpected increases in interest rates, and allow you to forecast cash flow more easily.

Financial Risk Management

Trade with confidence

Reduce risk of non-payment, unlock early payment options and negotiate better payment terms. 

Cost of borrowing

Fix rates and protect against unexpected increases in interest rates and cost of borrowing.

Currency fluctuations

Fix costs in advance and manage exposure to changing currency markets.

Worried about Bank of England Bank Rate rises?

Use our free Bank Rate calculator to see the impact of rate rises on cost of funding.

Use our calculator

Get in touch

If you’ve missed payments on your account or you’re worried about missing them in the future, please contact us. The sooner we know the sooner we can help you put a plan in place to manage your repayments. If you have a named Relationship Manager you should contact them in the first instance. If not, please speak to someone in the Business Management Team on 0345 072 5555 or +44 1733 347 338 if you're outside the UK.

If you have a hearing or speech impairment you can use Relay UK. More information on the Relay UK Service can be found at https://www.relayuk.bt.com.

*To help small businesses with the impact of inflation and rising costs of business, we are temporarily waiving unauthorised borrowing fees and returned item fees. Find out more about our Business Overdraft fees for businesses with £0-3m turnover and businesses with £3-25m turnover.

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.