Operating your business from home is an option if you spend most of your time working at client premises, deal with clients predominantly over the phone & internet, or just need a small office. Operating from home reduces your rental costs to nil. The main advantages of operating the business from home are: …Read More »
Reducing space usage and relocating to smaller premises will reduce rent costs (where the new premises have a similar cost per metre as the current premises). Businesses can reduce the space they use by: Going 100% paperless – documents and files are scanned and archived online instead of being stored as paper files…Read More »
If you have unused space, subleasing part of your business premises to a third party is a great short-term strategy to reduce some of your fixed costs. This will reduce your rent expense and provide extra cash flow. Subleasing typically makes sense when: Business conditions are tough – this reduces your overheads and…Read More »
This strategy involves asking the landlord for a rent reduction. Landlords will be more open to reducing the rent where: You are a good tenant that pays their rent on time and doesn't cause any trouble. Falling rents and increased vacancy rates means you are paying above-market rental rates. Implementation process: Use property websites…Read More »
"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2