Cutting Costs

Cutting Business Costs

No matter how long your business has been operational, it is never a bad idea to look at cutting costs.  Some businesses will do this on an annual basis, once yearly accounts have been prepared, to see how they might make savings in the coming year.  

Ways to Cut Costs in Business

Whilst reviewing staffing is often the quickest route to savings, it is also a sensitive area and could result in you losing the very people who can help your business to grow.  

There are other ways to cut business costs, including:

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Review suppliers

– to see if you can get a better deal elsewhere, or speak with your existing providers as you may be on an outdated plan or package that could be upgraded to provide better value for money.

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Shop around for insurance

– when running a business there are many different types of insurance that you may need to consider to protect your premises, property and staff.  When your renewals are due it’s a great time to review your spend and get quotes from other insurance companies to ensure you are not paying too much to protect your business.

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Use paper wisely

– in this digital age, much of your business correspondence and filing can be done online, thus saving you money on ink, paper, printers and postage.

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Go green

– consider using energy efficient appliances to reduce your energy bills and do your bit for the environment.

Business Energy Efficiency Programme

The Business Energy Efficiency Programme (BEEP) is available to help SMEs in Worcestershire become more energy efficient. Free energy assessments and grants are available to eligible businesses throughout Worcestershire, Herefordshire and Telford & Wrekin. If you’d like to find out more, please call us today on 01905 677 888 or email us with your details and we’ll get back to you.

Worcestershire Works Well

Worcestershire Works Well supports businesses to improve the health and well-being of their employees.  By improving workforce health and wellbeing, companies can reduce staff absence and contribute to increased productivity.  To find out more please contact the team today on 01905 677 888 or email info@business-central.co.uk.

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