5 Business Expenses You Can Reduce Today

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Running a business is stressful. The reward of success makes it all worthwhile, but when monthly energy expenses eat into your profit margins, which could make your efforts feel counterproductive.

There are simple ways to reduce your monthly expenses, make your business more energy efficient and allow you to enjoy your profits instead of allocating them to bills. 

Reduce These Expenses

1. Water Bill

• Installing tap aerators will reduce your water use and waste. Tap aerators regulate the pressure and flow of water from the tap, reducing the amount of water used. 
• Water faucets, water leavers and mixer taps are also effective ways to save water and costs on your water bill.
• Regularly inspect your pipes for water leaks and fix any taps that are leaking. Replacing washers will ensure that unnoticed leaks don't cost you money.
• Add signs to the bathroom and kitchen facilities to remind employees and customers to use water sparingly. This will cost you nothing and bring about awareness and cultivate an environmentally conscious culture.

2. Electricity Bill

Switching off lights may help save electricity. To make a dent in your electricity bill, you will need an energy-efficient solution. Here are simple ways to cut down your electricity costs:

• Replace your light bulbs with LED lights. LED lights last longer and don't have to be replaced as often as normal bulbs. LED lights also use a fraction of the electricity that normal light bulbs do, making saving electricity an effortless venture.
• Install solar panels to generate electricity.
• Switch off equipment like computers when not in use. Computers also have a feature which allows them to stay on in a reduced energy usage mode; the hibernate feature. You can reduce overall energy consumption by encouraging your employees to set their computers to hibernation mode when not working.
• Insulation will regulate office temperatures allowing your business to be warm in the winter and cool in the summer. Insulation will also save you costs by reducing your gas bill.

3. Gas Costs

• Reduce your business gas usage and bill by installing smart gas meters and finding a commercial gas supplier that offers the best rates for your business needs.
• Gas smart meters allow you to manage your gas consumption and establish when your gas usage is proportionately higher than usual.
• Install a thermostat to establish the temperatures and required use of gas. Turn down the temperature on heaters and power your business with solar energy.

4. Paper costs

Go paperless in your office, or at least partially paperless. Try to only print when it is absolutely necessary and use scanning as a digital alternative.

By using less paper, you save:

• Costs of buying boxes of paper monthly:

A ream of copy paper, with 500 sheets, costs an average of £8 - £12. By going paperless and making use of digital scanning and document filing, you can save substantially on the cost of paper.

• Printer equipment maintenance:

Printers require regular maintenance and technicians charge a pretty penny to do so. The cost of a printer technician ranges between £ 42 -  £ 65 per hour. By using your printer less, you can save on the regularity of required maintenance.

• Cartridge ink:

Printing less means less costs on ink cartridges, which are generally pricy. As manufacturers of printers focus their efforts on making profits from printing supplies, cartridge ink is sold at inflated prices, which you can avoid by going paperless. 

• Storage costs:

Documents need to be stored and that requires files, boxes, and secure space. By going paperless, you can reduce the costs of maintaining files in a secure location.

5. Utility Bill - Switch Energy Supplier

The UK boasts a large number of energy suppliers. This means you get to have your pick from the litter and select a supplier that serves your needs best.

If you have been with one energy supplier for a while, it's possible that you are incurring unnecessary costs like rollover tariffs. 

By exploring alternative suppliers, you’ll find that you can save a substantial 45% on your annual utility bills and benefit from service tailored to your business requirements.

If your business is in new premises, it is vital that you shop for the right energy supplier and not just go with the one you are familiar with as there are additional charges levied to your bill, which you can avoid or reduce with the right supplier.

Conclusion

Your business environment is just as important as your business purpose. Adapt environmentally friendly systems to optimise your energy efficiency and save you money at the same time.

By implementing the solutions discussed in this article, you will reduce your expenses and your carbon footprint.