COST SAVINGS higher tariffs or lumbered with old equipment when it's time to upgrade. INSURANCE From insuring your premises and its contents to public liability and professional indemnity, insurance is something no company can afford to scrimp on. But while it's important to cover all your risks - especially legal requirements such as employers' liability insurance - shopping around for the best price for your policies can save you a small fortune. Using a price-comparison website is a good place to start, but specialist business insurance companies often have access to the best deals and can arrange a competitive bespoke package to cover your risks. You can also negotiate with insurance providers direct on tailor-made policies. CLEANING AND SECURITY Shop around when hiring cleaning and security companies. Most offer a range of contracts and services, so you may Don't be afraid to let existing suppliers know if you've found a better deal. They may match or better the price want to start off with the most minimal package to see how things pan out. It may be that the lowest level of service is enough to meet your requirements, but make sure you have the flexibility to switch to a higher level should you feel you need to. While you don't want to scrimp on security, having CCTV, an alarm system and light sensors in place may cover your requirements without the need for an on-site security guard. Ask a specialist company to draw up a plan based on your risks and then seek a second opinion before choosing. WORKPLACE SUPPLIES From stationery to tea bags, you'll need constant supplies to keep your business running smoothly. Ensure you're getting the best deal on your purchases by shopping around and reviewing your suppliers regularly. Bulk-buying at a local cash-andcarry can save you money, or search for online deals. Don't be afraid to let an existing supplier know if you've found a better deal. They may be willing to match or better the price rather than lose your business. Be wary of locking yourself into a deal, though. Read the small print to ensure you're not tying yourself into a deal that will prove less than competitive further down the line or one that will impose penalties when you feel it's time to switch suppliers. 285 282 YB2017 Keep Costs Down jw.indd 285 03/10/2017 17:37