Small business owners are feeling the pinch right now as the deepening cost-of-living crisis continues to affect SMEs.

These businesses are at the heart of the UK economy, with the Federation of Small Businesses (FSB) reporting that SMEs account for three fifths of employment and around half of turnover across the UK private sector.

A recent report shows that 800,000 businesses were started during 2020 and 2021 and as we continue to see these numbers grow, SMEs are advised to take sensible steps to reduce cost pressures during this uncertain time.

Here the specialist team at Uplands Mobiles offer their expert tips to help business owners keep costs down…

1. Keep an eye on budgeting

Renegotiating and restructuring your budget can help to avoid raising product prices, which can cause damage to customer relations and profit margins.

Where possible source domestically as global supply chains usually include higher costs. It is also important to check your energy provider and consider switching if you can save on costs, and also ensure your business has a smart meter to monitor energy use.

We also offer a FREE telecoms audit here at Uplands to spot hidden costs that you might have overlooked. With 33% of bills showing errors, we can help streamline your business comms by keeping your finances in check.

2. Reduce energy use

Ensure your entire team is mindful of energy usage by:

• Switching off equipment when not in use
• Using equipment with lower energy consumption
• Ensuring all lights and electronics are turned off at the end of the day

One of the main reasons behind higher business costs is rising energy prices. These small steps can help to ease the mounting pressure on businesses.

3. Switch to O2 for Priority Rewards

Our Direct Partner O2 helps customers save with Priority Rewards, offering daily treats and exclusive savings. O2 Priority brings great offers from high street brands, tickets and experiences, to discount on food, drinks, and shopping.

O2 Rewards also offers cash back when you top-up, with up to 10% back every three months.

Looking to save money on your business mobiles? To find out how we can help your business call 0800 240000 or contact us.