Second Lap of the Fast Track for Make It Cheaper
Make It Cheaper's free business cost saving services have earned the company a place in the 2012 Sunday Times Virgin Fast Track 100 list, for the 2nd time.
Free-to-use business cost savings service - Make It Cheaper - has once again been recognised as one of Britain's fastest-growing companies in this year's Sunday Times Fast Track 100, published today (2.12.12).
Fast Track, which ranks privately-held companies by their sales growth over the previous three years, has positioned Make It Cheaper at 73rd in its league table for 2012. This is the second year that Make It Cheaper has met the criteria for Fast Track and is the second time that it has been ranked in the top 100 companies. Make It Cheaper is one of only 40 companies to have appeared in both the 2011 and 2012 league table (39th in 2011). Now in its 16th year, Fast Track has been an early indicator of companies that go on to become household names including: Carphone Warehouse, Moonpig Cards, Innocent Drinks, Jack Wills & Cath Kidston. Sir Richard Branson, who hosts a reception each year for the winning companies at his Oxfordshire home, says: "Fast Track has become the definitive barometer of growth companies."
Established in London in 2007, Make It Cheaper, the 'saving experts for business', now has 126 staff in the UK with an annual turnover of £11.5 million*, generating profits of £1.3 million. It offers free and impartial advice to businesses about a range of overheads including energy, telecoms, business rates, insurance and merchant services. By switching suppliers or helping to renegotiate deals with existing ones, it will typically save over 30% of costs - as well as a considerable amount of time that its customers can then spend on running their businesses.
Having extended its range of products and woken-up tens of thousands more small businesses to the benefits of switching, 2012 has seen Make It Cheaper save its customers in the region of £100 million. Its efforts at lobbying have also paid off this year with the energy industry regulator, Ofgem, taking on board its recommendations for clearer bills and contract notice periods from suppliers to make switching easier. Over the past 12 months Make It Cheaper has also established itself as a dominant player in utility switching in Australia.
Jonathan Elliott, founder and managing director of Make It Cheaper, commented:
"Whereas larger businesses often have the experience, resources and necessary clout to negotiate good prices with suppliers, most small businesses do not. And there are over four million of them in the UK. Make It Cheaper has answered a call from these businesses, as well as the UK's 200,000 charities, to represent their interests in a David & Goliath fight for a fair deal on a number of essentials from insurance to electricity. Not only do we help them save money that goes straight to the bottom line, but we save them a lot of time and effort in searching the market for the best deal."
Make It Cheaper - whose meteoric growth has been achieved without any external funding - puts its success down to maintaining a high level of customer service as well as offering market leading prices. The company receives a fanatical level of customer feedback and throughout 2012 it has achieved a Net Promoter Score of 74%**.
Figure from 2011 full-year accounts. NB Figures submitted to Fast Track were 2007-10 as the audited full-year accounts needed to have been published prior to the October deadline.
About Make It Cheaper
Established in 2007 and based in Central London with 126 staff, Make It Cheaper is the number one destination for businesses to get a better deal on their utilities and other services. It receives more enquiries and arrange more new contracts than any other business price comparison service. These include the business customers of major domestic price comparison services with whom Make It Cheaper has partnerships, as well as many nationwide trade associations and charity membership organisations. Acting on behalf of these customers with total impartiality and free-of-charge, Make It Cheaper offers year-on-year savings across a range of products including: business energy, telecoms, business insurance and merchant services (chip & PIN). By switching suppliers or helping to renegotiate deals with existing ones, it will typically save over 30% of costs - as well as a considerable amount of time that its customers can then spend on running their businesses. Make It Cheaper is currently ranked 73rd in the Sunday Times Fast Track 100 and has 2012 Net Promoter Score of 75%.