Reducing energy wastage is the main priority for UK businesses looking to lessen the impact of the economic slowdown, according to research by the Carbon Trust.

The research found that energy efficiency scored higher than recruitment freezes, redundancies, salary freezes or giving below-inflation pay rises as a potential cost-saving measure.

"Our new statistics provide stark evidence that if companies are starting to feel the bite from the economic downturn, the first place to look for cost savings should be their energy bill," said Hugh Jones, solutions director at the Carbon Trust. "There are literally millions of pounds going out of the window every day, across the UK.

"We're talking about money that could be saved by making quick and easy changes such as encouraging staff to turn off computers and lights, turning down the heating, or maintaining equipment properly."

Small businesses can apply to the Carbon Trust for loans of up to £100,000 to help them invest in energy-saving equipment such as improved lighting, boilers and insulation.