Five Top Tips to save your business money in 2010.
Posted February 9th, 2010 by your virtual office assistant
There is talk about green shoots of recovery and that the UK is out of recession, but if you run a business this talk may seem a little premature. Businesses that survive a recession are often stronger and more profitable than before; this is because they’ve reassessed all aspects of their business and reduced their cost base. When recovery comes, a reduced cost base leads to greater profits: If you haven’t done so already you should consider:
- Change office space: Moving out of city centre or high profile office space can reduce your rental costs by up to 60%, you may also benefit from lower business rates, employment costs and parking charges. Choosing a modern, purpose built complex may also reduce your utilities charges. Look for accommodation that is on the outskirts of city or town centres with good motorway links and access to the transport network; buses, trains and planes.
- Take advantage of reduced prices: The cost of many raw materials is now lower than ever; therefore a lower price could be negotiated for many regular supplies. Although sales are usually on consumer goods, many business suppliers are trying to attract extra custom with the same tactic: Sales can now be found on everything from office furniture to photocopier paper.
- Re-evaluate your personnel requirements: Do you really need a full time secretary? Making use of ‘pay as you go’ staff and virtual office services, offered by many business centres, can seriously reduce your staffing costs and employment headaches!
- Introduce programmes that encourage healthy living: Your employee’s good health should reduce absenteeism and could drive down insurance costs. Consider offering discounted gym membership or install a cycle rack and encourage employees to cycle to work.
- Cut down on meetings: Travelling to and from meetings incurs many hidden costs; travel costs, subsistence and the opportunity costs of the person’s time. Use technology; conference calls, video conferencing and webinars are very simple to use and extremely cost effective. This approach will also reduce your company’s carbon footprint.
Hyde Park House, Tameside has great value office space for rent right now: A prestigious address, virtual office services including telephone answering available on site and just a short distance from Manchester and Stockport, with access to the M60 motorway, the national rail network and Manchester Airport.
For details of the office space for lease and the range of flexible rental options, including e-Space; a virtual serviced office space at Hyde Park House from just £99 a month, call Lynsey on 0161 367 9000.
