7 AMAZING WAYS TO MAKE YOUR MONEY GO FURTHER FOR YOUR BUSINESS

Money is tight nowadays and it is vital that businesses structure their finances appropriately in order to save costs. Energy bills are rising, funds are short and everyone is struggling to keep afloat. Regardless of the sector you work in, you can employ various techniques and methods to try and make the most of what money you do have to make it go further.

The key is to be savvy with your purse strings. Often or not it takes something drastic to make a business sit up and reassess its outgoings to ensure finances are efficient. By closely analysing your expenditures and tweaking particular systems, you can maximise your company’s earnings.

Here are 7 amazing ways to help you make your finances stretch that little bit further and take your business to the next level in 2013.

1. Renewable energy

Energy bills for heating and electricity account for a considerable part of a business’s expenses. Tighten the belt by installing renewable energy solutions; these will make your finances go that little bit further as well as cut your overall carbon footprint. Solar power,biomass technology and wind turbines are increasing in popularity and there are a number of government grants which can help you towards the initial costs.

Alternatively, educate your workforce so the heating is turned off when windows are opened and appliances are switched off at the mains when not in use.

2. Switch energy supplier

It may be that your business is not on the right energy tariff for your individual needs. By comparing all the main energy providers in the UK, you can find the best deal to get the cheapest rates.

3. Tax

Are you paying the right amount of tax for your business structure? It could be that you are paying too much tax, so the best way to ensure the firm is tax efficient is to ask your accountant of the various business structures available and find out which one is right for you.

Similarly, you may wish to hire temporary works during surges in business instead of employing permanent staff. Independent freelancers can cut your tax bills but ensure they stay defined as contractors or you could face penalties.

4. Marketing

To many firms it may seem like a waste of money but by boosting your marketing efforts you will in effect make your money go further. It doesn’t have to cost the earth to engage with your consumers; interact on Facebook and answer questions on Twitter; it will make your brand friendlier and attract new customers. A happy customer will bring in more clientele.

5. Help

Utilise what contacts you have and ask for help wherever possible. Do you know someone who could do you a favour for free in return of help? This is the best way to go forward without exchanging cash.

6. World Wide Web

It may be that you save money by transferring your business onto the internet. Many retail stores have found that they are much more successful by being based on the World Wide Web so could you sell your products or services online instead?

7. Cut office overheads

Little expenditures like printer paper and cartridges may not seem like a lot but when altogether over the space of a year they can amount to substantial overhead. Do you need some new office equipment? Why not purchase second-hand furniture instead of brand new; or download free software through the trials instead of forking out on new programmes. Some firms encourage their employees to bring in their own laptops instead of buying new ones.