Partner Article

5 Ways to Save Pennies For Your Business

It’s still ‘hard times’ – as Charles Dickens once said - we’re still facing the effects of recession and saving money has never been more important or harder to do. Nobody wants to think about constantly pinching the pennies, yet changing your office habits will save your company money in the long term.

Go Green

First of all, it’s never been more important to stay environmentally friendly, in business life. Switching off lights and unplugging electricals can save up to 35% of energy costs. We tend to leave these items on whilst we are out of the office and the bill multiplies every time we do this. Not only is it good for the economy, it’s great for the bank balance too.

Tax Refunds

If you’re self employed and in the construction industry, you may forget to claim what you’re owed. Companies like Rift are there to help you receive this money you might be entitled to. RIFT CIS refund might help you earn a few pennies.

Pay-As-You-Go Work Phone

Some of us buy a contract just because we think it is one less thing to worry about and we don’t have to top up all the time. However many of us barely use the data, minutes and texts we are bundled with and once we get stuck in a contract its pretty difficult to get out of unless you have the money to pay it off! So if you aren’t so busy on your mobile and want to save some money then think about switching to pay as you go and see the end results in your bank balance!

Clear Your Credit Card Debt

This might sound obvious but it’s always easy to put in the back of our minds and say we will pay it off later, because we can. Don’t let your interest build up because you will regret taking out a credit card. Although sometimes times are hard and we need that extra cash to keep the company going, pay it back when you can, if you let it build up you will end up stuck in a rut and struggle to pay it back.

Generic Foods

Many of us find ourselves splashing out on the top brands for the office food stash because we think they are of higher quality, and frankly most of us don’t like change. But the switchover isn’t all bad. Not only do we tend to realise that most brands are exactly the same, we also notice a long-term change in our bank balance. Cutting down little costs like these can have a long lasting effect and you will find money left over at the end of each month. Calculate your costs – and see the difference.

Keeping on top of the small running expenses of a business will make sure that these costs don’t eat into your yearly profits. Writing your costs down in a small outgoings book is another way to make sure that your life savings aren’t being frittered away on sandwiches bought for meetings and printers that are draining the national grid.

This was posted in Bdaily's Members' News section by GeorgePeebles .