Prior to starting his own business, Callum Thompson had over eight years industry experience which gave him the confidence to tackle the lack of transparency by brokers in the non- domestic energy market.
We caught up with Callum to find out more about starting up his own business.
WHAT DOES YOUR BUSINESS DO?
Business Energy Claims (BEC) is made up of a team of energy industry and legal experts helping businesses to recover hidden commissions and losses from the mis-selling of energy contracts.
The commercial energy market in the UK is complex, with over 3,000 brokers selling energy solutions to businesses. Within that market we have discovered a significant number of examples of hidden charges and different forms of misselling.
We have partnered with a panel of law firms to identify mis-selling by energy brokers and help clients to seek repayment of the commissions and profits earned by the energy companies.
WHAT INSPIRED YOU TO START YOUR OWN BUSINESS?
Prior to starting BEC, I worked in the energy industry for several years and I felt compelled to tackle what I believe is a huge issue facing UK businesses. The non-domestic energy market is unregulated and as such the broker market is facing criticism for not being fair or transparent in its dealings, resulting in some brokers making significant financial gain at the expense of UK businesses.
The scale of this issue is immense and is a far bigger problem than people realise. In fact, Business Energy Claims’ research suggests that this could be a multi billion pound problem across the UK.
Currently, BEC is the only organisation which is truly taking control of the mis-selling taking place within the energy industry, which further demonstrates the issue at hand and lack of controls that exist.
TELL US A BIT ABOUT YOUR ROLE?
I am responsible for running BEC and ensuring that we effectively evolve the utilities sector to become more transparent and ethical. This includes meeting with clients, our partners and our panel of law firms to progress the cases we have for our clients.
WHAT HAS BEEN YOUR BIGGEST ACHIEVEMENT SO FAR?
Being able to raise awareness of this growing issue both regionally and nationally has opened up opportunities such as being featured in The Sunday Times, which is great promotion for us in terms of reaching UK wide businesses. We are also working with the Citizens Advice Bureau and other key regulatory bodies, so it’s great that we can bring this issue to a national decision making level.
IN THE FUTURE, WHERE DO YOU SEE YOUR BUSINESS?
In the future we see Business Energy Claims as being the driving force and go-to firm in helping businesses across the UK recover monies for missold business energy contracts.
IF YOU COULD GIVE ONE PIECE OF ADVICE TO YOUR YOUNGER SELF, WHAT WOULD IT BE?
Don’t get too downbeat about adversity and disappointment. Things going against you, or not as well as you would hope, are prerequisites for greatness. Dealing with them with bravery and courage will help you to strive in the future.