{"id":9989,"date":"2022-10-11T11:28:39","date_gmt":"2022-10-11T10:28:39","guid":{"rendered":"https:\/\/www.answerconnect.co.uk\/blog\/?p=9989"},"modified":"2022-10-11T11:29:01","modified_gmt":"2022-10-11T10:29:01","slug":"cut-business-costs","status":"publish","type":"post","link":"https:\/\/www.answerconnect.co.uk\/blog\/business-tips\/cut-business-costs\/","title":{"rendered":"6 actionable tips to cut your business costs today"},"content":{"rendered":"\n

1. Take your team anywhere<\/h2>\n\n\n\n

The office is one of the biggest single costs<\/a> for a business. But it\u2019s not just the office space itself – it\u2019s also the energy required to heat, power and secure the space. And with energy bills increasing, those costs are predicted to get worse.<\/p>\n\n\n\n

By getting rid of the office altogether, you can dispense with all those costs and help your team save money on bills too. That\u2019s because the additional costs incurred by your team working from home are balanced by cutting the commute.<\/p>\n\n\n\n

But getting rid of the office doesn\u2019t mean you and your team can\u2019t meet up. Almost every city now has a \u201cco-working space\u201d for businesses looking to meet up when it matters.<\/p>\n\n\n\n

\"Man<\/figure>\n\n\n\n

2. Invest in alternative (free) marketing channels<\/h2>\n\n\n\n

It\u2019s worthwhile diversifying your marketing channels<\/a> any day of the year, particularly when you\u2019re looking to streamline your budget.\u00a0<\/p>\n\n\n\n

Social media is a valuable channel, but only when you have the time to invest in doing it properly. But even if you only have a few minutes each day, you can set up a small ad campaign to promote your products and services. And with unique targetting parameters, you can laser-focus your marketing efforts.<\/p>\n\n\n\n

However, there is another even more effective marketing method, and it costs even less than a paid social campaign. Asking loyal customers to refer you to friends is a simple way to grow your business. <\/p>\n\n\n\n

Think about it; these people know you and they trust your services. That pre-established relationship also means they’re more likely to respond to you than if you messaged a cold lead.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Besides that, referred customers also tend to stay customers longer than those who find you on their own, so they\u2019re even more valuable. If you find a customer who’s been particularly enthusiastic about referring you to friends, consider offering them a discount or even starting an affiliate program, where you pay them a cut of any sale they bring your way.<\/p>\n\n\n\n

3. Identify business tax reliefs<\/h2>\n\n\n\n

As a small business, there is a range of potential tax breaks<\/a> available to you that you may not be using yet. These government-subsidised tax breaks are designed to encourage growth and enable small businesses to compete in a global market. But you don\u2019t have to be a small business to take advantage of many tax breaks on offer.<\/p>\n\n\n\n

Businesses of any size can claim back a range of tax-deductible expenses, including:<\/p>\n\n\n\n