20th December 2016

Money Saving Tips for Businesses – our Top 5 of 2016

As a small business, SwitchMy is always on the lookout for money saving ideas. Switching business gas and electricity suppliers is at the top of our hitlist simply due to the significant reductions to be had, but, there’s lots of other opportunities out there.

Money Saving 1

We would say this wouldn’t we! Switch your business gas and electricity suppliers. You shouldn’t be paying more than 13.5 pence per kW hour for business electricity and no more than 3.5 pence per kW hour for business gas. Never, never, never stay with your renewal deal. So far we have saved our small business customers an average of £3,000 per year with the highest annual energy saving of £10,000!! You can switch online at www.switchmy.com, call us on 01772 395338, or ring around several suppliers to get a comparison. You can save at least 20% by switching.

Money Saving 2

Most businesses stay with their incumbent bank for card payment services and chip & pin hardware. Switching your provider can be a rich stream of savings. Most companies are paying £20 per month for chip & pin devices, 2% for credit card fees and over 1% for debit card fees. Plus there is often a PCSI DSS (security fee) of £5 – 15 per month.

Don’t pay more than £10 per month for chip & pin hardware, 0.5% for debit card transactions and 1% for credit card transactions. You can get more advice here. We reckon that most businesses will save between 10 and 40%.

Money Saving 3

We absolutely love giffgaff for straight-forward low cost sim only mobile telephone deals. It’s simple to switch and they have unlimited minutes, texts and data packages that will no doubt save you over 50% off your bills. You can keep your existing number so no need to worry about that. If , like us, you use lots of data whilst out and about the unlimited package is ideal – no more worrying about Wifi hot spots. There is no contract so you can try it without being tied in.

 Money Saving 4

Number 4 on our list, and still on telecoms, is RingCentral. If you fancy the functionality of a mega-bucks corporate telephone system, but without the price tag, check them out. The system uses your internet / broadband connection to beam call via IP (Internet Protocol) to a fixed handset, computer or mobile phone. You get really good call handling, out of office response, call forwarding and you can manage the system and add users from your PC. Ditch the old analogue phones and get IP’d up! You even get a natty task management system and telephone conferencing facility thrown in. Prices start form around £15 per month.

Money Saving 5

Last, but not least, it’s No.5…

Do you ever need simple legal help but shudder at the potential cost? Well, Rocket Lawyer has a really neat solution for low-cost legal support for businesses. For a low subscription fee you get a wealth of standard documents that come in very handy. We’re talking contracts of employment, partnership agreements, trading terms and conditions, debt recovery letters – too many to mention. You can also “ask a lawyer” if your issue isn’t covered online. It’s free to try so give it a go!

So that’s our 2016 Top 5 money saving tips for small business – remember a pound saved is worth ten sold.

Anthony Mayall

Anthony has been in industry for 26 years and in the energy market for over 10 years. He loves to help customers to reduce their costs by getting them a better deal elsewhere.



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