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Keeping costs low - 7 Steps to Start-Up Success by Abbey Business Centres

19/11/2009

Abbey Business Centres provide SMEs and Start-Ups their advice on how to reduce costs across business operations to ensure sustainable growth and profitability:

1. Bundle up your communications – Most small businesses have simple communication set-ups typically consisting of a mailing service and phone & internet lines. When choosing a communications package look for those that bundle both calling and internet plans as they usually offer substantial savings.

2. Start out from home – The majority of start-ups do not require physical office space and they can initially be run from the home. It’s still possible to give off that professional image and credible presence by subscribing to a virtual office service. The service provides a prestigious business centre mailing address and a local telephone number. All the mailing needs are taken care of at the centre and the calls are answered in the name of the company, so there is no need to worry about missing those important calls and opportunities.
The centres have dedicated meeting facilities, so when you need to impress those potential clients the perfect meeting space is right there at your fingertips.

3. Get your business online – For businesses to succeed today it is essential that you establish a web presence. Whilst it doesn’t make sense financially to build the ultimate web site right off the bat you need to get your company online. Over time you can add to the site as you become aware of exactly what functionality and tools your customers desire.
When starting out think about using free website tools like Google Sites or having your site built by offshore designers. 

4. Complete your own tax returns – Accountancy fees aren’t renowned for being cheap, so for small businesses managing your own returns can reward you with great savings. Typically this will involve completing a tax return form for the revenue office so they can assess your income or any capital gains and determine whether you can claim allowances or relief against your tax bill.

5. Market your business, yourself – Small businesses often enlist the services of external agencies to perform their marketing activities for them, figuring they can carry them out more effectively. Whilst there are some things that agencies can do that you cannot, it all comes at a price. Really examine what you can do for your business internally, because after all no one knows your business better that you do. Before you go knocking on the agencies door for help with things, look into hiring a freelance marketer, as they can be a lot less costly.

6. Don’t tie yourself into long leases - When you are ready to take the leap to a fully-fledged office don’t commit yourself to traditional 3 to 5 year leases. Future proof your business by opting for a flexible agreement with a serviced office company, you can sign for as little as 3 months and increase or decrease the size of your office to meet your business needs.

7. Cut down on office supply costs – Office supply costs can be one of the largest expenses that small businesses face. Look to purchase non branded products as the cost is always lower and the quality is often identical.
Printer ink cartridges are known for being the major component of these costs, always look to purchase re-manufactured parts over originals as this is a quick-fire way to hack these costs down.

Abbey Business Centres have over 10 years experience in helping Start-Ups and SMEs get their businesses off the ground. Our range of serviced office space provides the perfect opportunity for many companies to take prime office space locations at a fraction of the cost when compared to more traditional commercial space.

For more information on our range of UK office space, call today on 0800 634 6346. Alternatively, you can email our sales team directly.