Cost saving tips for your business
Every business owner is feeling rising prices across the board no matter what sector they are in.
So what practical tips can be used to save money and try and keep the costs from spiralling?
- Go through your outgoings line by line starting with the biggest expenses first. Can you get a better deal by renewing the contract if it is expired? Can you find a cheaper provider? Is it needed?
- Ask for discounts if you are a valued customer and use a broker to do the leg work for your insurance, Utilities (light / heat and gas)& payment processors.
- Will valued suppliers give you a rebate based on the volume you purchase or a discount for bulk purchase up front if you can facilitate?
- When are you doing most of your business? Are you open 7 days a week and doing 80% of your business in 3 of those days. Would you lose customers if you weren’t open 7 days a week?
- Are you energy efficient? The SEAI provide a €2,000 voucher towards an energy audit to establish how you can become more efficient. They also provide lots of energy saving tips on their website. https://www.seai.ie/business-and-public-sector/small-and-medium-business/supports/energy-audits/
With the increased prevalence of card and online payments it may be worthwhile having your payment processer cost and service reviewed. We have recommended Cardfox in the past to many of our customers. If you would like us to pass on your details to them please email us at business@gridfinance.ie.
GRID provide tailored finance solutions with truly flexible repayments so if you want to make an application today please set up an account and provide your details. We can help smooth out your costs over a longer period.
GRID facilities are used for any purpose and can be topped up again when materially repaid.
Alternatively you can call the team anytime at 01 531 24 24.
