Jun
9
2015
It doesn’t take a rocket scientist to work out that London, the land of
opportunities, can pose a real challenge for start-ups. Although the location
offers a brilliant springboard for new businesses, it also requires more capital,
time and commitment than setting up anywhere else. Competition is fierce, and
the price of property is exceptionally high. Although there are a wealth of
chances for new enterprises, there are just as many trials and tribulations to
combat.
So how can you work around them? Cutting costs is a great place to start, so here
are three top tips to help you do just that…
Tip #1: Use a Virtual Office
One of the greatest challenges for London-based start-ups is the incredibly high
price of property. Renting and buying in the capital costs more than anywhere
else, and unless you have a very deep fund to dip into, this throws a serious
spanner in the works. This is where serviced offices can come into play. If you
have a business that you can conduct largely from home, then take advantage
and do exactly that. This will significantly cut your costs, and you can still benefit
from the perks of a top London postcode by using a virtual office. This will
provide you with a prestigious business address and telephone answering
service, without the associated costs of a physical office.
Tip #2: Use a Virtual Secretary
If you can’t cut costs by working from home, there are other ways to lighten the
monetary load, first among them a virtual secretary. This role is vital to most
companies, significantly relieving the pressure of running your own business at
the same time as fielding enquiries and dealing with the administrative side of
things. However, secretaries in London will need to be paid more than anywhere
else, thanks to the increased cost of living in the capital. The answer: a virtual
secretary. They’ll make your job easier, and cost you far less than employing
someone in an ordinary secretarial capacity.
Tip #3: Explore Outsourcing
Our third and final tip is this: always explore your outsourcing options. Although
most business owners assume that doing everything themselves will cut costs,
this simply isn’t true. Expansion requires money, so adding new departments or
arms to your business will always have a high initial outlay. If you’re not ready
for this, outsourcing can provide a great solution. It will give you access to
experienced professionals and high-end equipment, without the cost of investing
in these yourself.
Cut your costs today with these three top tips.
By Jakub Vele •
News •
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