The cost of living crisis has hit everyone in the UK hard and it’s having a real knock-on effect on small businesses. Soaring energy prices, customers cutting down on non-essential spending and costs of materials are rising too. So, what can we do as small business owners to save money within our own businesses? 

Here are 5 ideas for where you can make savings without impacting on the quality or deliverability of your activities. 

  1. Remove printed information sheets, letters and receipts as much as possible. Send everything via email as default and only print items when specifically requested. You’ll save money on both paper and printer ink. 
  2. Think about how you are advertising. Are there any lower cost methods you could use that might give the same (or even better) return on investment? Consider Pinterest adverts over more costly social media campaigns, improve your website SEO before you spend money on Google Ads; use free advertising opportunities on local FB Groups. 
  3. Negotiate! As the saying goes: “If you don’t ask, you don’t get”. If you have any regular suppliers, speak to them to see if there’s a deal to be done. They might be happy to knock £ off your bill to secure you as a longer term customer. Phone bills, internet providers, regular suppliers of materials – these are all good places to start. 
  4. Are you saving energy and resources wherever you can in your business? LED lights in your office, print on both sides of paper, reuse everything you can. It’s better for the environment and will save you money in the long term too! If you work from home, are you claiming a % of your running costs as a business expense? 
  5. Do a really thorough review of all your expenses. Look where you can save a few pounds – it really will add up. If you need to post items are you sure you’re getting the best price for postage? Are there any opportunities to buy more materials in bulk to make a cost saving? If you’re buying snacks/drinks for your activities then is there a cheaper way to do this? Scrutinise and question everything. 

There is no one magic way to automatically save loads and loads of money unfortunately – every business is different. But, all of these smaller savings will definitely add up and you might be surprised just how much you can save over the course of a year. 

If you’re not already advertising your business and activities for free on Wootzoo then what are you waiting for? You can also try our Pro Package for free for 30 days at the moment – just click here to find out more. 


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