Three Top Cost-Cutting Tips for London-Based Start-Ups

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


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.