Business cost saving in 2018: Five business cost reductions you could be making right now

New year, new start! The new year is a great time to change old habits and put yourself on a path of health and wellbeing, whether personally or in business. The new year can often be a quiet time for many industries and using this period to give yourself and your business some headspace is never a bad thing. Don’t wait until the spring to get your business in order. Here are some things you could be doing right now to cut your costs and improve your company’s profitability.

5 business cost savings you could be making right now

reduce your energy costs

  • Energy costs.

Even if it’s not the time to look at switching your business energy supplier, taking some time to do an audit of your spending and how you use energy can put you ahead when the time comes where you’re allowed to switch.

Have a look at our blog post about how to reduce your business energy costs


Reduce your business costs

  • Payment technology in 2018

In 2018, it will become illegal to charge your customers for paying by credit or debit card – see for more information.

Now is a great time to review how you accept payments and see if you can be doing a better deal with an alternative payment processing supplier. While you should look at easier payment systems as an investment in improved customer services, there’s no harm in shopping around to see if you can provide the same service for a lower cost.

Read our blog post on why you should invest in payment card technology in your business


Cutting recruitment costs

  • Recruitment and HR

If 2018 is set to be a year of growth for your business then you are likely going to need more people to make it happen. However, recruitment can get very costly – read our blog post about how you can save money on recruitment, and if you should!

Cutting business postage costs

  • Postage and Fulfilment

Postage in the UK has experienced above-inflation rises over the past few years and no doubt 2018 will not prove to be the exception. If you’re looking to reduce the amount of money your company spends on postage and distribution, then have a look at our blog posts on how to reduce business postage costs for some ideas.

Marketing on a budget

  • Marketing on a budget

Marketing your business is essential but it can get costly and time-consuming. Again, marketing is a necessary evil but that doesn’t mean you should throw money at it. Here’s our blog post about marketing on a budget – hope you find some good ideas to help you cut those marketing costs.

No doubt that 2018 will be another interesting year in business. Whether you’re growing, diversifying, or just plodding on steadily, we hope that your year is a good one. Please do get in touch if we can help you start the year with that little bit more financial stability for whatever you have planned for the future.

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