We’d all like to increase our profits driven upward by a big uplift in sales. But what if there was another way to increase your profits that wasn’t subject to your competitors and the difficulties of marketing your product or service?

The other way to boost sales is of course by reducing your costs. But how can you reduce your costs without damaging your key business? Here’s three easy ways you can cut costs without compromising the health of your business.

1)      Reduce regular costs

The first costs you should take a hard look at are your recurring business costs. Telecoms costs, gas and energy suppliers are the low hanging fruit where many businesses are paying uncompetitive rates. Because the bill each month isn’t too high, many businesses never get around to switching to a cheaper supplier.

But when you add up the savings over months and years you could save thousands of pounds by switching. XLN has over 130,000 small business customers in the UK who use our  telephone lines, broadband and energy tariffs. XLN resells services provided by major companies like BT which means you can keep your existing telephone number while saving up to 81% on calls and 37% on line rental.

XLN Telecom can supply your business with a cut-price business phone line and business broadband connection. Call therm on 0808 178 9225 or visit their website to find out how they could save you money: www.xlntelecom.co.uk

2)      Renegotiating your rent

If your business has the ability to relocate, this can be an easy way to save simply because the sums can be so great. Just renegotiating your rent down with your landlord by two or three percent could add a large sum to your bottom line. Would your landlord like the hassle of having their property empty under current market conditions? If not, it could be a good time to review how much you pay when the contract expires.

3)      Squeeze your suppliers

Inflation means your suppliers have probably boosted your prices. But global competition and cheaper transportation means if you buy physical product you could be sourcing them for less from overseas. Switching suppliers could mean much cheaper prices, so always worth taking a look. And if you feel very attached to your current supplier, don’t worry about being disloyal – as long as you can show them you have found cheaper prices elsewhere, they will no doubt be keen to keep your business by giving you generous terms.