1) Review energy tariffs
Energy costs have risen by an average of 15 per cent a year since 2006, doubling the cost for households and businesses alike.
Review the tariff you are on to find a cheaper one, making sure you sign up for paperless billing and pay by direct debit to get the cheapest deal.
2) Improve credit control
Collecting cash for jobs complete is vital to help maintain an effective cashflow and reduce potential bad debts.
3) Switch telephone line suppliers
BT and many broadband firms charge £14.50 a month for having a landline. However, there are suppliers that give as good a service for £9 a month, saving you £66 per line a year.
4) Use Skype instead of paying for phone calls
This tip is especially useful if you need to speak to customers overseas regularly. If both parties download the Skype software, then calls are free.
5) Review your broadband contracts
Broadband charges are constantly changing in a very competitive market with some deals available for under £5 a month and competitive business broadband packages available from small suppliers such as First Telecom.
6) Cut recruitment costs
Do this by using your own contacts and networks and social media sites to put the word out that your firm is looking for new staff.
7) Buy online
Many items you need for your business come at a cheaper price online and excellent second hand office furniture is available from Ebay or Amazon
8) Use a wholesale stationery supplier
Rather than buying from your local high-street stationer, use a wholesale supplier to save on office supplies.
9) Tax breaks
Make sure you are taking advantage of all available tax breaks such as subsidies for apprenticeships and National Insurance holidays for small start-up businesses outside the south-east.
10) Cut down on legal costs
Do this by using common templates from the Federation of Small Businesses and the government website YouGov.
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