Every business will have a space that they work from. Whether it is an office or space at home, you will require somewhere to work from. Thus, there will always be costs involved. From rent to purchasing furniture and paying energy bills, there will be costs that you need to cover as a business. To save money and maximize your budget, here are 5 ways to cut business costs and reduce the expenses of your business space.
Ensure that the space is efficient before signing the contract
When you rent a space for your business, you will want to ensure that it is safe and secure before signing the contract. The last thing you want is to sign to rent somewhere that is lacking energy efficiency or safety.
For instance, you will want to ensure that the building has got an EICR. If you are wondering, ‘What’s an EICR?’, then you will like to know that it is an electrical safety report. Every landlord must ensure to give their tenants an EICR before they sign the tenancy. As a tenant, you must be aware of the condition of your electrics. A satisfactory EICR will ensure to keep your costs down as you will unlikely face electrical issues as the last five years.
Negotiate the lease
Leases are open to negotiation. There is no harm in asking the landlord for a discount on the price, especially if you are renting for the second year in a row.
When you get the timing and the approach right, your landlord will likely say yes. Being able to save money on your rent will help you utilize the money to enhance other areas of your business.
You will be paying for energy bills for your business. You might be paying for electricity or water, gas, and electricity. Either way, switching suppliers could help you save money.
Spending too much on your energy bills is a common thing. You could be paying way more than you need to. So, switching suppliers will help you get a better deal and reduce your costs.
Cut out the phone bill
Most calls can be made through the internet nowadays. Thus, there is no longer a need for a business phone.
Instead, you should utilize your broadband deal and use the internet to make voice or video calls. You can be more efficient and save money.
An eco-friendly office is a simple way to reduce costs. Firstly, you will cut your energy costs by using less heating and AC.
Furthermore, you could ask your staff to be more aware of costs and switch off their electricals at the end of the day. Although you might think switching off the computer at the button will stop the electricity flow, it won’t. Switching it off at the wall will cut the supply and the cost of the bill.
Using these tips you can cut the costs of your business bills, grow your business faster, and start saving money instantly.
Author - Chris
Author, Editor, Creator of this website.