10 ways to reduce your business costs

A practical and impartial guide from the British Business Bank to help you look at ways of lowering your outgoings or reducing costs.

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A recent survey has shown that the cost-of-living crisis is adding to the challenges already faced by many businesses.

Wouldn’t it be great to reduce outgoings and ease pressure on your cash flow? Then you could get back the more important business of… growing your business.

It could be easier than it looks to lower costs.

The British Business Bank has produced 10 ways to reduce your business costs. Their aim is to help business owners and leaders get better results.

They’ve got ideas that could help you and your business in the following areas:

  • Look for a different workplace.
  • Write a budget and keeping to it.
  • Move marketing online.
  • Share your equipment with other businesses.
  • Use part-time or freelance staff.
  • Not rolling over premiums and services
  • Avoid extra charges for finance.
  • Get Ideas from your bank.
  • Do not be afraid of haggling.
  • Find tax reliefs that your business can use. 

 

Why not take a look and see if there’s a way for your business to cut costs