Callum Thompson had years of industry experience which helped him found his energy claim business, and he applies one acid test to everything he does…
Tell us about your business, what does it do?
Business Energy Claims (BEC) is a team of energy industry and legal experts helping businesses to recover hidden commissions and losses from the mis-selling of energy contracts. 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 did you do before you started this business?
Prior to starting this business I worked in senior positions within the energy broker industry for around 8 years.
What inspired you to start up?
Having worked in the energy industry for several years, I felt compelled to tackle what I felt is a huge issue facing UK businesses. The scale of this issue is immense and is a far bigger problem than people realise. There are energy brokers being set up almost on a daily basis mainly because of the lucrativeness of this industry and the low barriers to entry that exist. Furthermore, a lack of regulatory pressure and a lack of control from suppliers has allowed there to be over 2,000 energy brokers in the UK which is perpetuating the problem. At BEC we have a team comprising both energy industry experts and legal experts ensuring we can educate our clients to identify hallmarks of mis-selling and guide them to recover the mis-sold commissions.
How would you describe your business to your grandma?
We are taking action against energy brokers to help businesses recover hidden costs.
Where do you get advice, support or help?
Our team. We are fortunate enough to have a mix of both energy experience and also legal experience who have so far been instrumental in this project.
What has been your biggest achievement so far?
Realising there was an issue and having tested the market, our experience to date has shown that our clients see a need. The sheer volume and value of claims to date has re-affirmed that we have done the right thing in taking on this challenge. We have already helped clients identify a series of mis-selling hallmarks which will help them in their future energy costs.
How do you differentiate your business from others?
At this moment there are no other businesses in this market. BEC are the only organisation that are truly taking control of the mis-selling that is taking place within the energy industry, which further demonstrates the issue at hand and lack of controls that exist.
What’s it like to be your own boss?
Enjoyable, but I am always putting myself under pressure to deliver and ensure that BEC are helping businesses to tackle this problem.
Where do you see your business in 5 years time?
I see BEC as being the organisation that transformed the energy industry for the better. BEC will be the ‘go to’ firm and market leader for identifying mis-sold energy contracts and recovering costs.
What advice would you give to aspiring entrepreneurs?
Always put yourself in the shoes of the customer and ask yourself ‘would you use your own services?’ by doing that and understanding the market that you are looking to step into, you’ll understand the scale of the opportunity that exists and how successful your business could be.
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