SMEs urged to reduce their costs

28 December 2007 / by None
Small and medium-sized enterprises (SMEs) have been advised to reduce unnecessary costs in order to help them through the next few months.

Recent research by Alliance & Leicester (A&L) revealed that small businesses were feling more optimistic about their prospects over the coming year.

However Steve Jennings, director of business Banking the bank, suggested that they were wasting £500 million a year by not getting the best deals to met their needs.

"Small businesses should look for smart ways to reduce outgoings which will help support their growth plans for the year ahead," he said.

"Something as simple as making sure that they are with the most competitive banking provider can make all the difference to a business' finances."

Only 16 per cent of SMEs polled by A&L thought their outlook for 2008 was on the downside.

Corporate credit card customers have been told by Barclaycard that its new carbon-offset charge card could help them reduce the impact of travel on the environment.

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