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Whether you are self-employed, running an SME or a large organisation, there are a number of ways to save money. With cash flow often an issue for businesses of all sizes, we look at some of the most effective ways to save money on things such as:

  • Staff
  • Rent
  • Machinery
  • Contracts
  • Purchasing
  • Tech

 

Dollar Hand has put together a number of top tips including:

  • Flexible contracts for staff
  • Lease restructuring – could you be paying less for your office space if you signed up for a longer term deal?
  • Allow for remote working to save on office space
  • Pay for staff on credit cards – earn points and air miles
  • Can you sub-let your office to another tenant
  • Can you use factoring to get all your invoices paid upfront and in advance
  • Can you have more flexible repayment terms to your debtors
  • Can you use your machinery more effectively? Evenings? Weekends?
  • Should you purchase items and stock in bulk to save money?

 

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