Low retail market awareness amongst small and medium businesses

Low awareness of the retail water market and a lack of information on switching is continuing to prevent many small businesses from securing a better water deal.

New research suggests awareness levels of competition has remained static among small and medium-sized businesses, since the market opened in England in April 2017.

Our fourth wave of research tracking the views of SMEs shows only about 2 out of 5 SMEs think they can switch water retailer.

Less than a third (29%) of businesses that took part in the study were aware they could try to negotiate a better deal with their existing supplier.

CCWater says SMEs are not being empowered with the knowledge they need to shop around and enjoy potential benefits, including lower bills and improved service.

However, once smaller businesses are aware they have a choice, they are increasingly motivated to explore their options. Over the past six months a growing number say they have taken steps towards switching – with 2 out of 5 dipping into the market. About half of ‘market aware’ SMEs have looked for more information.

You can read the full survey results below:

For more information on the report, please email marketreform@ccwater.org.uk.