Every business wastes a huge amount of money without even realising it. It won’t be one item that say, £1,000 has been overspent on – no, it’s the small items which possibly aren’t noticed. Every small business owner would cringe if they went to the bank, drew out twenty £50 notes, and then went to a bonfire and threw the notes onto it. Most owners wouldn’t actually do it as no-one wants to burn money or waste it in some other way.
No business is ever totally efficient when it comes to overheads and running costs. However, it really is a crime not to save money when it doesn’t actually involve spending cash. One of the major ways to reduce the overheads is by arranging to compare business electricity prices. This is an easy item to start with and by just changing from one energy provider to another can bring considerable savings. Whilst dealing with electricity, change all the light bulbs for low energy bulbs and every light bulb changed will reduce the energy bill by approximately £75 per year. Ten low energy bulbs will obviously reduce the electricity bill quite significantly.
Stationery costs can also be reduced by comparing various printers’ prices for letter headed paper etc. Many online stationers will be cheaper; however if you have a good relationship with a local printer whom you want to support, find out whether it is possible to barter services rather than having to pay a high price. Only when you have managed to compare business electricity and other expensive costs will you realise how much money will have been wasted since the business opened.
An easy way to compare business electricity is to ask an independent energy broker to find the most economical price for you. They will look at the way you use electricity and will also be able to suggest ways of saving electricity, and they will look for the cheapest provider, together with the most appropriate contract.
When everyone leaves the office in the evening, ensure that all the lights are switched off. It is surprising how many businesses leave lights burning all night. Similarly, before leaving the office, ensure that all computers are switched off, and not just left on standby. This can reduce the energy bill substantially.
The various savings in themselves possibly don’t appear to be significant; however when they are added together, they can add up to quite large sum of money. In a time when many small business owners are struggling, ensure that money isn’t wasted. If there are any staff, ask them to think of reasonable cost cutting ideas, and any which are able to be adopted can earn the employee a small bonus – either as a gift, or as cash. Involving the staff will also ensure that they don’t think you are making cuts because you are in financial difficulties. Once they know that you are just being careful they will be happy to assist.