Navigating Rising Costs: Where to Start and How to Streamline Your Business

You may be feeling the pressure of even more rising costs on the horizon. With national insurance and minimum wage increases, and energy bill rises it's crucial to find ways to streamline your expenses or face the possibility of increasing your prices.

But where do you start?

Identify Opportunities to Streamline Costs

To navigate these challenges we would suggest taking a strategic approach. Here are some steps to help you identify opportunities to streamline your costs:

1. Conduct a Business Health Check: A comprehensive business health check can help you understand your current financial situation and identify areas for improvement.

2. Analyse Your Expenses: Review your operating costs and identify areas where you can cut back. Look for unnecessary expenses or areas where you can negotiate better rates.

3. Optimise Your Energy Usage: Implement energy-saving measures to reduce your energy bills. Consider investing in energy-efficient equipment and practices.

4. Evaluate Your Staffing Needs: While we would support any business to appropriately reward its staff, we recommend assessing any new staffing requirements and exploring options for outsourcing non-core tasks. Outsourcing can help you reduce employment costs while maintaining efficiency.

5. Leverage Technology: Utilise technology to automate processes and improve productivity. Investing in the right tools can help you save time and money.

   
   

Explore Outsourcing Options

Outsourcing can make a difference:

• Administrative Tasks: Outsource tasks like bookkeeping, payroll, and customer support to free up your time and reduce overhead costs.

• Marketing and Communication: Hire external experts to manage your marketing campaigns and social media presence.

• IT Services: Outsource IT support and maintenance to ensure your systems run smoothly without the need for in-house staff.

Julie Christie, ABVS Business Owner, in a vibrant green dress smiles warmly, waving hello on a bright, sunny day in a spacious park setting.

Take the First Step with a Business Health Check

A key service we offer at Angus Virtual Business Services, we can help small businesses and sole traders clarify their business goals, navigate financial challenges, and streamline their operations. Our business health check provides a comprehensive analysis of your business, helping you identify opportunities for cost savings and growth.

Why not book a free 20-minute consultation to get you started?