Reduce your utility costs
Utilities can account for a sizeable chunk of your firm's costs, but you might find that you can make considerable savings in this area. Here are some cost-cutting ideas:
- Offer bonuses and other incentives for noteworthy conservation, and circulate copies of your firm's energy bills to remind employees of your commitment to reducing costs in this area
- Ask employees to turn off and cover up all equipment at the end of every day where appropriate - this not only saves power but also extends the life of your equipment
- Install time clocks to control heating, air conditioning, and lighting
- Turn the temperature setting on your thermostats down during the winter and, if you have air conditioning, up during the summer
- Your offices could be over-lit in areas such as storage rooms, south-facing offices, or the staff room. Remove bulbs or fluorescent tubes to bring lighting down to an appropriate level
- Encourage employees to turn off fluorescent lights when they leave a room for more than fifteen minutes, and incandescent lights if they leave for three minutes or more
- Reduce bulb wattage wherever possible
- Replace standard fluorescent and incandescent lights with high-efficiency fluorescent light, which gives the same light output and can save up to 80% of the energy according to the energy trust.
- Install 5-minute shut-off switches in stock rooms or other little-used areas
- Appoint a specialist to review your utility bills in case you are overlooking something
Much 'green' advice results in cost reductions, exploring such web sites as the Energy Saving Trust and Business Link could produce cost saving ideas including:
- Make energy conservation and reduction of C02 emissions a factor in capital expenditure decisions, i.e. computer equipment, cars, lighting and insulation.
- A company that operates a fleet of more than 50 vehicles is eligable for a free Green Fleet Review which could cut costs as well as vehicle emissions. If the fleet is smaller then similar advice is available by phone on 0845 6021425.
The Business Link web site offers a menu based advice service for many different business activities aimed at reducing costs.
- Business
- Personal
- Tax
- Budget 2012
- Year end tax planning
- Paying less income tax
- Financial planning guide
- Minimising capital taxes
- Tax rates and allowances
- VAT
- PAYE and NI
- IR35 Centre
- Tax and business calendar
- Autumn Statement 2011
- Budget archive
- Finance Bill 2012
- The Finance Bill 2011
- 2011 PAYE Update
- Regulation changes from April 2012
- Links
- Calculators
Business finance
- Business growth and development
- Dealing with fraud
- Financial accounting
- Improve your profitability
- Can we help you improve your profitability?
- Hiring winning sales staff
- Increasing your cashflow
- Manufacturers need smart stock management
- No business is an island unto itself
- Profit sharing is investing in your bottom line
- Remunerating for profitability
- Protect your business against a downturn
- Small players - take advantage of your market share
- Strategic alliances - help your business grow
- Three steps to cheaper financing
- Managing costs
- Can you cut your interest payments?
- Credit and tough economic times
- Protect your business when your customers go under
- Improve your debt collections
- Improving productivity
- Outsourcing delivers a range of solutions
- Reduce your utility costs
- Dealing with employee absence
- Protect your business when your customers go under
- Buy, HP, or lease?
- Reduce your wage bill
- Managing business budgets and finances
- Cashflow forecasting
- How to go about choosing reliable suppliers
- Setting out the right payment terms
- Operations and processes
- Raising finance
- How to present a request for finance to your bank
- Raising finance for your business
- Business plans: the foundation for success
- Finding the money to develop your business
- Annual financial planning
- Alternative ways of extracting profit
- Business debit and credit cards - pros and cons
- Government grants and loan schemes
- Staying competitive

