As a small to medium business owner, you will no doubt know that there are many costs when it comes to running your establishment or enterprise.
The kind of business that you run will of course determine how you can save. If you are running a local chip shop your expenses will be entirely different from a local digital marketing firm.
With that understanding, we wanted to put together an article that can be of use to local Manchester business owners, no matter what kind of SMB you are operating. We hope these tips help!
Landlords – Pay Attention To Tax
Landlords have a lot of different moving parts to consider when running their properties. Tax is one such aspect that often can get left to the last minute when the tax return reminders pop up.
But even for landlords who are well versed in submitting tax returns, there may be methods you can employ to save on the tax that you pay. You don’t need us to tell you that overpaying taxes can be detrimental to running your properties.
Bringing on expert tax advisors is a good way to know exactly how much tax you should be paying on your properties. If you are overpaying, they can help right it and advise on how to proceed – the same can be said if you are underpaying.
Pubs – Go For Something Permanent
Using one-use plastic cups can be tempting, especially during an event. It is often seen as a much cheaper alternative to buying in more cups and pint glasses. And while it may seem cheaper in the short term, in reality, you could end up paying more over the years.
It may seem costly but making the investment now to buy high-quality glassware – or even hard plastic cups – will eliminate the need to buy one-use plastics. When it comes to large events you won’t need to worry about placing orders and making sure you have enough one-use cups for the night.
With a dishwasher on rotation, and with plenty of cups already stocked, there will be plenty to go around. Not only will this save money in the long run, but it can also help your businesses to do its part to combat climate change and pollution.
This leads nicely into;
General Advice – Watch Those Water Bills
No matter what SMB you are running, you will have some kind of water bill. Even if that just means the water needed for an office bathroom and kitchen supply.
Something that may seem as minor as a small leak can quite literally drain away your money every month. In the case of a leak, it can also damage your property and result in costly repairs if it goes unnoticed for too long.
Make sure you implement a way to monitor your water usage and compare this usage with what you get billed each month. If there is a difference, even a slight one, then it may be time to investigate why.
Having an independent way to measure your water, such as a water metre, also allows you to challenge high bills and surcharges that some water companies try to slip in under the radar.