How often do you review your business expenses?

review business expenses

Business expenses are a cost but they don’t need to be a fixed cost.

By investing a little time into creating a habit and working smarter, you can lower your business expenses and increase your profitability.

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It is easy for each month end to become a ticklist of tasks, and how often do you really look at your outgoings? And we mean really look at them.

We all recognise the subscriptions that nibble away at our personal accounts every single month. The streaming service we rarely use, the gym with great equipment if only we were ever there. Or the faddy food kits that sit in the fridge before creeping to the composter.

At TLC, our mission is to liberate you from time spent keeping track of numbers.

However that doesn’t mean it isn’t a good idea always to keep your own eye on your company’s comings and goings.

Business expenses

Going through a consultant can make a substantial difference to your utilities and energy expenses.

They can negotiate with suppliers, ensuring the best value for each business overhead. It might not immediately be the cheapest but their expertise can improve your business efficiency and save you valuable time.

You don’t need a full-time procurement specialist. But there are usually savings to be made on stationery, printers and photocopier costs.

Charges creep up, and it’s only with a little discipline and checking around that we can make sure we get the best deal.

If you’re investing in marketing and advertising, are you still getting the return on investment you expected or agreed on?

And we all know that mobile phone contracts change almost as quickly as the technology driving them surges forward. Bundles and shared data can make keeping on the best deal a fairly opaque business.

Routine

Every month at TLC, we go through outgoings with our clients. And this regular and accurate analysis provides a prompt to examine unnecessary expenditure.

By getting into the routine of querying outgoings and overheads, we can help you to reduce the costs of the goods and services you use every day in order to run your business.

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