5 Money saving tips for tradespeople

Working for yourself as a tradesman can be stressful and very hard work, money-saving within your business is always a good idea to help you maximize your profits. 

If you’re looking for ways to cut your expenses, read our 5 tips on how you can save money in 2022.

1. Take care of your tools and equipment
   Your tools are your trade, and good quality tools are not cheap. The higher the quality of a tool, the better it will perform and the longer it will last.
   Spend time to take good care of your tools and equipment, keep them organised and clean.

2. Advertise your business for free
   Use stickers and signs to brand your van, this allows you to promote your business for free to thousands more customers. It’s a low-cost way of advertising your business.

3. Audit your regular outgoings
   It is a good idea to regularly audit all your outgoings and take some time to review your business to help eliminate any unnecessary recurring charges. Are you able to cut back on any of your regular outgoings, or are you paying for something you don't need?

4. Claim back all your expenses
   Remember, if you are VAT registered, you are entitled to claim VAT back for any tools and materials you purchase for your company.
   Make sure you keep a detailed record of your accounts when it comes time to fill out your returns, and check what expenses you can claim back.

5. Buy in bulk
   Many companies will offer discounts when you buy in bulk, so stock up on materials and tools that you use on a regular basis to save money.