A few thoughts about £££’s …
One of the business owners in Your Local Dragon found he could reduce his bank charges by around £200 per year simply by switching to a different business package offered by his own bank! Most businesses are set up with standard business banking accounts. Ask your bank about the best package for your business. It’s simple to do and it could save your business quite a bit of money!
Online banking is a service that can help your business to save money over a year. It also gives you more control over your accounts. Writing cheques involves the banking cost of the cheque, the envelope and the stamp – online transfers are usually free.
Postal costs increased in April 2012. So every cheque you write & send to your suppliers costs your business around £1 – stamp, envelope, time etc. If you send 100 cheques per year that could be quite a hefty hidden cost in your business. Suddenly Online Banking becomes even more appealing!