Published: 26/10/2016

7 tips to save money on small business bills

Business Growth

Staying on top of your bills means you could save hundreds – or thousands – of pounds each year. Cutting the cost of your overheads can be easier than you think – yes, it might take a little time to sit down and assess all of your outgoings, but it’ll be worth it.

Here are a few tips to help you along with the process and get you saving cash on your bills…

1. Reduce the cost of your business landline – to make your business landline as economical as possible, compare bundles and shop around for the best business landlines deals. Remember to keep your business landline on a regular review cycle, giving you the opportunity to spot new and more cost-effective deals.

2. Knock off £££s from your gas and electricity – money saving experts advise that “consumers can knock off around £200 from the average yearly gas and electricity by switching energy tariff.” You could also switch to monthly direct debit payments to cut your costs. And by turning down your thermostat just one degree centigrade, you could cut 10% off your heating bill.

3. Avoid unnecessary internal calls – if you’re based in a large office or have a decentralised team and need to keep in contact with colleagues and employees within different departments or at different locations, consider taking advantage of new communication technology, such as instant messaging platforms like Slack.

4. Cut down your mobile phone bill – don’t be afraid to haggle with mobile phone suppliers. Remember, you’re in charge here and they want your custom, so use it to your advantage to get the best deal possible. Another alternative is to use a price comparison website to find the best-value monthly option.

5. Petrol and public transport – if travel is a regular aspect of running your business, investigate the cheapest options. Could you save money by taking public transport as opposed to shelling out for fuel each week? Are you within cycling distance of your workplace? It’s also a good idea to shop around your local area to find the cheapest fuel. If you are using public transport, then be sure to book train tickets well in advance – if you’re doing longer journeys it can save you hundreds of pounds!

6. Pay your bills on time – avoid incurring late fees and interest charges by making sure that you pay your bills on time. The best way to do this is to pay by direct debit and plan ahead.

7. Save on broadband – broadband deals can be unnecessarily expensive. Think about what you actually need, otherwise, you’re spending money on features you won’t make use of, such as an unlimited download cap. Compare packages through a price comparison website to find out what is right for you.

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