Every single business on this planet has been affected by the Coronavirus pandemic in some way. Some have had to let people go, some have had to shut down. It’s been a tough year for businesses all over the world, especially financially.

No matter what your business is – big or small, a viral product or a household staple, you’ve probably been feeling the strain that the pandemic has been putting on you. Chances are, you’ve been racking your brain trying to think of ways to save money and make it stretch a bit further. That’s why we’ve compiled a helpful list of was you can do this.

Take a look at your payroll

Many businesses have let the majority of their employees go due to the financial strain the pandemic has placed them under. There are ways of lessening your payroll UK expenses, without jumping into the most extreme method.

Try and find any areas where you can lessen the hours of employees. In some cases, you may need to cut their salary a bit. Understand that this will cause friction in the company and that many employees will be upset with the idea, but they’d probably rather be paid less than be without a job.

Get sponsorships

If you’re hosting an event, try to get bigger, more financially stable businesses to sponsor you. You might have to work extra hard to convince them to sponsor you during this period of time, since they probably won’t be too keen on shelling out money, either.

So be sure to come up with a plan that shows them what you can offer them in return. Hosting events can take a massive chunk out of your budget, so knowing that the majority of those expenses are paid is sure to be a massive relief.

Buy bulk

Many people think that bulk buying only extends to groceries. This is simply not true. Many places offer bulk deals on office essentials, such as stationery, and even big appliances such as laptops or computer screens.

Of course, you can also buy your office groceries in bulk. Things like toiler paper, coffee, milk and sugar all things that offices with a lot of people in tend to go through very quickly, so if you can save on it, you should.

Consider remote work

If you haven’t already, consider letting at least some of your employees work remotely. There are various benefits to doing this. First, your employee will be saving on their transportation costs, which might make them more open to the idea of a possible salary cut.

Secondly, as mentioned, groceries cost a lot more than we often think they do, especially if you’re buying for hundreds of people. Having less people coming into the office means that you won’t go through groceries as quickly, effectively saving you money.

If all else fails, you can run your entire company remotely (depending on the kind of company, of course.) This means that you’ll be saving on what is probably one of your biggest expenses – rent.