Tag Archives: suppliers

5 Ways to Reduce Business Costs Through Money Savings Techniques

what does being vat registered mean

Running a business successfully is a lot like running your own personal finances successfully. You need to look at the bottom line. You need to look at money coming in and the money going out. You need to follow these money saving tips. And you need to look at your income and your expenses. It sounds like common sense, but this practice is everything. And before you even get started crunching the numbers you need to remember one golden rule: People First, Money Second. This attitude will put you miles ahead of your competition and will gain you dividends you never thought possible. Why? Because money comes from people. But practice that model sincerely and you will be swimming in more money and success than you will know what to do with. Let’s look at 5 Ways to Reduce Business Costs through Savings Techniques. Here are the 5 best ways to save money.

Small Businesses in the UK Suffer Consequences of Late Payments

Over recent years, many people across the UK have decided to start their own businesses.

This has resulted in a new wave of small businesses that could potentially have a huge positive impact on the country’s economy.

However, for any small business that is still in the throes of growth cash flow can be a big problem and this is an issue that is being made worse by late payments.

Problems with Suppliers Costing UK Businesses Billions

For most business these days, particularly smaller businesses, being able to cut back on unnecessary costs has become vital due to the tough financial and economic climate.

However, according to a recent report many firms are losing huge amounts of money as a result of problems with suppliers. In fact, it is claimed that resolving problems with suppliers is costing companies in the UK in excess of £10 billion every year – money that businesses, especially small ones, cannot afford to lose.

photo by: Digital Sextant