March 22 2016.

The power of negotiation cut the bills of Britain’s small businesses by £511 million in the past year, research finds. Nearly half (45 per cent) of British small and medium-sized enterprises (SMEs) surveyed saved £10,000 or less in the past year by negotiating, according to a study by npower Business.

This potentially resulted in overall savings of £511 million across the sector in the past 12 months.

Despite the financial benefits, the survey goes on to show that three quarters of SMEs say they don’t negotiate with their suppliers and, in particular, 70 per cent don’t negotiate with their energy supplier before agreeing to a contract.

However, some 93 per cent of the SMEs that do take the time to negotiate energy contracts say they see value in....

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