Place Support Partnership: Helping reduce business costs
Changes to business rates and unpredictable global energy markets are creating a challenging landscape for UK businesses. Now more than ever, cutting unnecessary operational costs is key.
To help our members navigate these challenges, the Fitzrovia Partnership has launched a collaboration with Place Support Partnership (PSP). This offering is a part of the Fitzrovia Partnership’s wider business support programme, designed to drive sustainability, cost savings, and long-term operational efficiency.
Since 2020, PSP has helped businesses across the UK save over £15 million. With a track record of partnering with over 50 Business Improvement Districts (BIDs), PSP brings expert knowledge directly to our local business community.
PSP works closely with businesses to audit, review, and reduce overhead expenses across several key areas:
- Electric
- Gas
- Water
- Merchant fees
- Telecomms
How has PSP helped Fitzrovia's businesses save so far?
Over the course of a six-year relationship, this business has saved over £150,000 on electricity and gas with help from PSP. This included securing green energy contacts to meet sustainability certifications. PSP also worked with them on a bill validation exercise, securing £30,000 of credit by resolving historic incorrect billing.
For four years, PSP has supported this consultancy’s portfolio across Fitzrovia and Wimbledon. They helped to mitigate the impact of the energy crisis by locking them into earlier terms and long-term contracts, resulting in savings of £15,000 per year.
As new arrivals in Fitzrovia, PSP helped to secure favourable terms for the business resulting in 30% savings on electricity, equating to £128,000 over two years.
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