Reduce your costs
Let us help you reduce your costs - Download this PDF for more information.
At face value, it can be difficult to see where savings can be made within your business. The main things that should be addressed first are:
- Utility bills - heating, electricity, water
- Loan Repayments
- Phone, mobile bills & line rental
- Wages - number of staff
Once these costs have been reviewed and pared back where possible, the next stage is to think outside the box. For example,
- Assess the income generated at different times of the day. Is it more feasible to open at 9.30 rather than 8.30, or visa versa; should the business open through lunch
- Investigate whether your business is entitled to grant support (Contact Us to review this)
- Review your skills & the skills of your team - do you need to learn new skills or upgrade your skills to grow your business. In many cases, training can be funded or supported by state agencies. (Contact us for further information)
- Examine your systems to ensure that time is used efficiently
- Consider outsourcing your bookkeeping and finance department (Contact Us)
- Review your marketing and promotional spend.