icount logoicount Current Account
Skip to content
Menu
Close search form

Blog

icount > Blog > Business Accounts > Top tips on improving your small business’ finances
Small Business Finance Tips
Business Accounts

Top tips on improving your small business’ finances

4th September 2017Michael ScottComments: 0

Starting a new business can be daunting and the financial risk involved can be the biggest obstacle to navigate. You may be worried about your outgoings and income and how the two balance each other out. That’s why we are here to offer you a few tips on how you can easily improve your new business’ finances.

Juggling your accounts and trying to make the right decisions to help your business grow and expand is not easy. Some risks have to be taken, however there are plenty of things you can keep an eye on to make things move a little smoother.

How to reduce expenses in a company

If you haven’t had your business up and running for long, you may still be in the learning phase. Learning how to reduce expenses in a company is something that takes time and practice, however there are a few things you can do to help cut unnecessary costs.

Take a look at the smaller expenses within your company, such as hospitality outgoings like tea, coffee, snacks or office stationery. You don’t have to cut these things out completely, but it might help to look for cheaper alternatives to help bring down the price.

When you first start out, look at your income and outgoings, highlighting the things that are essential for running your business and anything underneath that can either be cut completely, or adjusted to find more affordable alternatives.

Cost saving ideas for the workplace

This again ties into only choosing the essentials. Office expenses often start to add up without you even realising. Make sure that you are not paying for ‘luxury’ items such as expensive coffee machines or equipment that is not essential to running your business.

Also keep an eye on easily wasted items such as post-it notes, printer paper, printer ink and notebooks. Try and keep all of your documents online to reduce printing costs and keep an inventory of all stationery bought for your business, to make sure there is no unnecessary waste.  

Choosing the right money management tool

One of the things our icount business account customers love about their account is how easy it is to manage. With no credit check required and an instant online decision when you apply, you’ll be able to take full control on all of your business’ expenses.

Unlike regular business bank accounts, you’ll be able to open an account with ease, no matter what your credit history. You’ll be able to deposit cash at over 14,000 locations nationwide and save money on bank charges.

Choosing the right money management tool can be integral to the management of your overall finances, so make sure you fully research your options before making a final decision.

Tell others:

shortlink Tweet

Share this:
  • Share via WhatsApp
  • Share via Facebook
  • Share via Google
  • Share via Email
Tags: Business Planning, Money Management, Prepaid business account

Comments:0

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • What are the pros and cons of an IVA?
  • Mastercard vs Visa – What’s the difference?
  • We’ve answered your questions on where you can use a prepaid card from icount!
  • What makes icount one of the best prepaid cards on the market?
  • 5 things to know about an Individual Voluntary Arrangement

Recent Comments

  • Dash on The direct route to saving money
  • Prepayment Meters: The Ultimate Insult For The Financially Vulnerable on Which Utility Bills Do Brits Find Most Difficult To Pay? [INFOGRAPHIC]
  • Which Utility Bill do Brits Find Most Difficult to Pay? - Disease called Debt on Which Utility Bills Do Brits Find Most Difficult To Pay? [INFOGRAPHIC]
  • Frequently asked questions - icount mastercard gift card phone number on Frequently Asked Questions
  • How to be a model credit score student - Finance Inspired | Finance Inspired on Brits Admit They Don’t Understand Their Credit Rating

Archives

Categories

Will a business bank account affect my personal credit history?

Quick links

Check Card Status
Activate Card
Sign in
FAQ
Fees
About
Blog

Contact

0330 024 0924 for customer care
+44 207 153 8940 from abroad
By post
Call centre cheat sheet

Mon-Friday 8am–8pm, Sat 9am-4pm. Calls to 03 numbers cost no more than a national rate call to an 01 or 02 number and will count towards any ‘inclusive minutes’ in the same way as 01 and 02 calls. Calls may be recorded.

Apply now

Apply for your icount current account with MasterCard.

icount current account MasterCard

Get Card

Latest posts

What are the pros and cons of an IVA?

What are the pros and cons of an IVA?

3rd SeptemberComments: 0
Mastercard vs Visa - what's the difference?

Mastercard vs Visa – What’s the difference?

14th AugustComments: 0

icount is a trade name of icount Money Limited, 2 The Courtyard, 283 Ashley Road, Hale, Altrincham, Cheshire, WA14 3NG: Registered in England & Wales No. 05416538

MasterCard symbol © Copyright 2017 icount Money Limited