8 money-saving tips for small and medium sized businesses
Whether your small to medium sized business is in the hospitality, tourism, retail or even an office-based industry, these simple money-saving tips will help you reduce outgoings.
1. Save water, save money
There are a bunch of ways you can ensure you’re not wasting money on wasted water. Check your premises for leaks, there could be some minor, unnoticeable ones in bathrooms and around toilets, (check out our guide to carrying out a self-leak test here), invest in a water butt to collect rain water and use the eco setting on your dishwasher. For further water efficiency tips, check out this blog post.
2. Spread the word wisely
Of course, you need to invest in promoting your business, and these days there are a wealth of low-cost ways you can get noticed – so swap traditional advertising for PR and social media.
3. Invest in energy efficiency
Switch from halogen lighting to LED, which lasts 10 times longer and invest in energy efficient appliances. Making these changes can save you a lot over time.
4. Switch and save on bills
Make sure you’re getting the best value when it comes to utility bills. We offer great value rates for SMEs due to our lean business structure. To find out more and get a free quote, fill out the form on our homepage or call us on 0330 6600 137.
5. Buy second-hand office equipment
You don’t need to break the bank for a desk, as long as the equipment is comfortable and safe.
6. Make sure you have a mobile card reader
These days a lot of people don’t carry cash, so you risk losing custom if you don’t offer card payments.
7. Network with other SMEs
If you’re a hotel, work with local attractions to offer discounts with stays or if you’re a café, work with local makers and brands to cross-sell. If you feature someone’s art and take a good photo for social media, the artist will probably share. Same with craft beers and even furniture.
8. Train staff well
Make sure staff are trained in sorting recyclables correctly, turning off lights, monitoring the thermostat and letting you know if they see any equipment defects like leaks.