Best Bookkeeping Services in Northallerton

This week we're seeing a crisis with wholesale gas prices rising and we've seen at least 4 electricity providers are at risk of going bust. nnOne thing these providers all had in common was their relentless pursuit of customers. They were on price comparison sites and energy switch companies trying to gain your custom offering the best deal they possibly could do to get you to switch. nnThey were fundamentally all competing for your custom by offering you the cheapest price whilst still making a profit. None of them could forsee what was going to happen as if they did all the suppliers would have collectively started increasing prices a long time ago. nnIf any of them had a concern it was going to happen, if they put their prices up to try and buffer it they would lose potential customers. It wasn't a risk worth taking. nnAs it stands, they had enticed customers on to their fixed rate/fixed term deals and are now in the position of trying to sell the customers on as honouring the agreements will make a loss and they will go bust. nnThis isn't a finger pointing 'look how stupid they were' exercise, this is normal practice in this sector, its what they've always done but as with all things affected by external market forces there is always a risk, its just for the most part that risk is minimal.nnNo business can sustain a loss long term and this scenario is an example of why competing on price can be a race to the bottom.nnWhen it comes to pricing your goods or services it's really important to make sure your prices are calculated properly as best as possible. Unless your business is in an area that is extremely price sensitive then you should not base your selling prices on beating your competitors.nnCustomers are far more savvy nowadays and won't always be swayed on price alone. When you show your customers your value and demonstrate it they won't be basing their decision to use your services on the price they pay but instead it will be based on the quality of the service or product. This gives higher client satisfaction and retention than can ever be achieved by being the cheapest. nnWhat are your thoughts on the subject?