One of a firm’s biggest outgoings is its office overheads. As well as having to pay for the rent or mortgage on a premises, a business will have to stump up for paying its utility bills, business rates, telecommunications, equipment and furniture and furnishings. This can include chairs, tables and even garage shelving for the storage of all the products they store. They could get this however at great prices from sites including https://www.garage-shelving.co.uk In times of recession, having to pay for these overheads can prove tough for many businesses, with adjustments or overhead cuts often having to be made to ride out the economic storm.
Business in London
London is one of the world’s largest hubs of economic activity. According to Deloitte London hosts 40% of European headquarters of the world’s top companies. 60% of non-European companies with headquarters in Europe are also based in London. London is, therefore, undeniably the business capital of Europe. Where it will be now the Brexit has been decided however no one knows, but for now and the foreseeable future as well as being the place that most businesses want to call home, according to The Independent London is also the most expensive city in the world to live in. Any business that operates in London will therefore need to be continually mindful of its office overheads, to ensure it can afford to pay the bills in this premiere rate city.
A flexible approach
Many businesses operating in London take on a flexible approach to their working environment, in an effort to cut overheads. For some, this might mean downsizing office space, allowing staff to work remotely, hot-desking or allowing staff to bring their own smart devices into the office for working, rather than the company having to buy IT equipment. Why not kit your employees out with a scaled down home office, by providing them with a suitable office furniture.
Using serviced offices
An increasing number of businesses use serviced office space in London as a way to reduce their overheads. Serviced offices offer a business a flexible approach to contract set up and can fulfil its telecommunications and office equipment needs, without a business having to invest in them. This can be particularly useful for a start up firm that might have just located to London, but lacks the financial resources to buy expensive office equipment, at a time when it might need the funds to invest in other areas of the business. If you are a business looking to set up in London try to find out more information about a serviced office space.
Review service providers
There are many other actions a firm can take to help reduce its overheads. It might want to look into switching its energy provider to get a better deal, for instance. Some firms may benefit from evaluating their telecommunications systems to see if they could save money, such as switching to a web-based VoIP phone service, especially if they do a lot of international business.
Enlist employee involvement
Often, employees are the most informed about aspects where a business could be wasting money. It is worth getting employees involved in discussing ways that savings could be made. Some of these could be environmental, such as using less energy or water. Employees might also be encouraged to strive towards a paper-less office, by storing documents digitally rather than printing everything out.
Every business in London is unique in its requirements and where the bulk of its overheads lies, so finding ways that are individual to each firm is key to seeing where savings could be made.