Money Saving Tips for Businesses And Trades | Checkatrade
Review a Trade

Have you completed a project recently? Let your tradesperson know how they did.

Advice Centre

Get Inspired! Check the latest industry expertise and read insider tips from our vetted tradespeople.

Search For A Trade

We interview and vet all our tradespeople to ensure they meet our high standards.

Join Checkatrade

Join us and benefit from the millions of potential customers who use Checkatrade to find reliable tradespeople.

Advice Centre

Grow your business! Check out top tips and expert advice for boosting your reputation online.

Login To Your Account

Edit your profile, view callback requests and ask for feedback from customers.

Money saving tips for businesses and tradespeople

Running a business is hard work and comes with many challenges. One of the biggest challenges you'll face is sticking to and getting the most out of your budget. You need to make savings, and here's how.
  • Struggling to make a profit?
  • Looking to build up some savings for future expansion?
  • Struggling to know what’s worth investing your tight budget into?

Sound familiar?

We’ve gathered some fantastic money-saving ideas for your business, whether you’re a solo tradesperson or run a team. We’ve also covered the planned UK corporation tax increases from 2023.

Money saving tips for businesses providing a service

While it can be difficult to understand the different financial aspects involved with running a company, the following money saving tips should give you a starting point:

  • Improve productivity: Investing in training your employees will mean increased productivity, allowing you to take on more work.
  • Raise your prices: Take a little time to see how much your competitors are charging. If they are charging more than you, it may be time to raise your prices.
  • Claim back expenses: Remember, if you are VAT registered, you are entitled to claim VAT back for any tools and materials you purchase for your company.
  • Cover a smaller area: If you have an abundance of customers, why not reduce the area you cover? Longer journeys mean wasted time and fuel costs.

Spend less on business essentials

Members save on insurance, tools and fuel. You could too.

Explore membership

Money saving ideas for companies of all sizes

Use these money saving ideas for companies to help boost your business into the black:

Optimise your spend

Review your marketing spend

Moving your paid marketing and website spend to an online trade platform like Checkatrade can eliminate the cost of building an expensive website yourself.

You’ll also benefit from an increase in customer leads through Checkatrade’s homeowner searches.

Plus, Checkatrade will even supply you with free marketing materials to really boost your business.

Let Checkatrade do the marketing for you!

Reducing business expenses

Be more efficient

Investing in better quality tools and equipment can save you time, and therefore money, in the long run.

Provide premium services

Train your employees to offer higher quality services at a premium.

You could even train them in new disciplines with higher profit margins or stop having to outsource work to other contractors.

Cost saving ideas for business tools and vehicles

You may have reached a point in your company where you are struggling with debt or barely covering your outgoings. This is a great time to implement some of the below cost saving ideas for businesses tools and vehicles to revive your finances:

  • Buy tools and materials online using trade discounts. Joining Checkatrade will give you access to excellent trade discounts.
  • Use stickers and signs attached to your van(s) to advertise your business for free, reaching more customers.
  • Invest in an electric van to reduce fuel costs in the long term.

Spend less on business essentials

Members save on insurance, tools and fuel. You could too.

Explore membership

Reusing tools to keep costs lowReducing business expenses

You may not have the best head for figures, but if you want to maximise your company’s potential, use the following tips for reducing business expenses:

  • Outsource jobs: This will help to eliminate overheads and allow you to take a referral fee for little work. This is also ideal if you have a specialised staff member who only has a small amount of work and is no longer profitable.
  • Buy in bulk: Many companies will offer discounts when you buy in bulk, so stock up on materials and tools that you use on a regular basis to save money.
  • Insurance: While insurance is essential, it can be expensive. Use a comparison site to get the best deal. You can also save money with Checkatrade’s member benefits.

Useful checklist of money saving tips for businesses

  • If you need to find new customers, consider joining Checkatrade, starting a website or using social media.
  • Don’t constantly plough money into an old website that doesn’t generate the leads and enquiries you need. Become a Checkatrade member and we will do the hard work for you. We invest millions into advertising, giving your business better exposure and visibility.
  • Consider outsourcing work to another company.
  • Make the most of trade discounts on tools and materials (you can get great discounts as a Checkatrade member).

Spend less on business essentials

Members save on insurance, tools and fuel. You could too.

Explore membership

Tell us what you think

Please leave your comment

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

What others think of this article:

No comments yet!

More content like this

Heat pump engineer salary

Heat pump engineers install, maintain, and service a variety of ground source and air source heat pu...

Read more
What’s the average gutter cleaner salary UK?

Where there are gutters, there’s a need for gutter cleaners. So, if you get into this trade, there...

Read more
How much does a painter and decorator earn?

Whether you’re starting out as an apprentice painter, thinking about becoming a self-employed ...

Read more