There are four areas of your business finances that are worth regularly reviewing:
Any borrowing, including credit cards, finance and loans
Your bank account and any deposit accounts
Your insurance policies
Any business services, including your gas and electricity contracts
Get the finance your business needs
Accessing the funds you need to grow, manage your cash flow, or invest in new ventures can make a big difference to the success of your business.
It's important you choose the right product and shop around to find the cheapest option. You can use our business comparisons to look for:
Loans: ranging from £1,000 up to £1,000,000+
Credit cards: to help you manage your business expenses
We also cover specialist business finance areas like:
Bad credit business loans which could be available if your business has poor credit
Invoice finance where you borrow money by using your outstanding business invoices
Revolving credit facilities which gives you flexibility to borrow only what you need
Merchant cash advances where you borrow against your businesses card takings
Asset finance which you can use to purchase items like machinery and office equipment
Sort your day-to-day spending
Your business bank account is at the centre of your finances, so as your business grows check you've still got the best account.
If your business has cash reserves you want to get a return on, you can compare savings rates here.
Protect your business
Getting the right insurance for your business is crucial to fulfil your legal obligations and to protect your business should something go wrong.
There are two main policies you must have by law:
- 1.
Employers' liability insurance if you employ any staff. It covers claims if they are hurt or die while working for you.
- 2.
Commercial vehicle insurance if you use a vehicle for your business. You need third party cover as a minimum, but comprehensive policies can offer better protection.
Look carefully at the cover your business needs, not just what you need to have by law. Find out how to insure your business here.
Cut the cost of your overheads
The less you can spend on your day-to-day costs, the more revenue you will have left as profit.
Utility costs represent some of the biggest outgoings for businesses, especially those with large premises.
Our business gas and business electricity comparisons can help you check if you're paying too much.