The Big Overheads That Are Hurting Your Bottom Line

If you run a small business, you’ll know that it’s an endless battle to keep costs down. You try your best to find the cheapest vendors, and the best deal, and yet operating expenses still devastate your bottom line. There is rent to pay, plus all the money for lighting and heating. Then there is an endless list of additional expenses that you hadn’t planned for. Perhaps a member of staff had to take a week off because of illness. Maybe you had to send a parcel at the last minute by courier or risk losing a client. Who knows?

Those costs are unpredictable and hard to avoid. But it’s the day-to-day costs of running a business that makes up the bulk of your expenses. So it’s time to look at them one by one to see if there’s anything you can do to improve your financial situation.

Get Rid Of Your Business Mobile Contract

About ten years ago mobile phone operators were charging vast sums of money for their business contracts. Businesses got thousands of minutes and thousands of texts, for a price.

Now, though, the world of voice communication has moved on substantially. Practically everybody is now close to a WiFi hotspot, meaning that there is less need to make calls over traditional mobile networks. Businesses could save a lot of money on their overheads if they said “no” to the mobile networks and “yes” to services like Skype and Google voice. They’re essentially free and both work so long as you’re near to WiFi. It all means that you can ditch your expensive business phone contract for a much more affordable regular contract.

Get Clever On Utilities

How we manage our utility bills is changing. With the emergence of the internet of things, the utilities in our houses will soon be connected. And that means we can be smart about when our heating and plumbing systems turn on and off. Commercial plumbers are already installing wireless central heating controls. And this means that you can monitor your usage and turn systems off the moment they’re not needed.

Go Paperless

An average ream of paper costs about £6. Then there is the clerical cost of administering that paper and storing it. Then there is the cost of disposal, not to mention the effect on the environment. Add to that the cost of printer ink, which for most laser jets is outrageously expensive, and you get my point. Paper offices are expensive. And with the rise of digital technology, should be something in the past.

Just think of how much money your business could save going without paper. You might even be able to move into a smaller office, saving you a fortune in the long run.

Get An Accountant

Most businesses consider their accountant to be an overhead. And this is true. But their accountant is also an investment. Why? Because they have a knack for finding out ways to reduce your overall tax bill. Often small businesses overpay on tax, and this cripples their overall profitability.

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