Travel costs, advertising and staff bonuses were seen as the three main areas for reduced spending during 2009 by small business managers.
Andy Nash, operations manager at Opus Energy, said he was "surprised" that energy bills did "not appear higher up the list".
He added: "This widely overlooked area can provide vital savings for companies and make more of an impact on their bottom line than other areas.
"Indeed, Carbon Trust research shows that simply monitoring energy efficiency in the workplace could help companies save over 12 per cent on their bills."
Gavin Brown, energy spokesman for the Scottish Conservatives, recently said that people across the UK are "confused" about their gas and electricity bills.
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