Inflation, costs and cash flow
Strategies and financial solutions to help you reduce business costs, mitigate risk and manage cash flow.
Energy costs and sustainability
Manage rising energy costs
The extraordinary rise in wholesale gas and electricity prices is being felt by both households and businesses. But unlike consumers, businesses don’t have an energy price cap and are not eligible for the government’s Energy Bills Support Scheme. As day-to-day essentials like heating premises, running equipment and making deliveries become more expensive, we have some tips to help you manage rising energy costs.
Why it could pay to go green
While businesses may understandably be concerned about the financial impact of being more eco-friendly, choosing the right investments could reduce costs in the long term.
Managing business costs
How to reduce costs
When inflation rises, so do business costs. There are a number of strategies you can use to limit the impact, both in the short and long term. From reviewing travel budgets and cutting down wastage to reimagining office space and investing in green technologies, we have some ideas to help.
When is it time to put your prices up?
When costs are increasing as they have been for the past few months, keeping your business profitable and resilient can be challenging. Deciding that you need to raise your prices has a financial impact on your customers so it's something that needs careful consideration.
Improving your cash flow
Ways to manage short term cash-flow pressures
Running out of cash can be a problem for many businesses, especially during the current economic climate. Late payment can leave you unable to pay your suppliers and staff, or cover overheads. Every business needs funds to purchase goods and services and these will often be held as stock until they are sold, so there may be a period of credit before the end customer pays.
From good forecasting, scenario planning and getting paid promptly, there are ways to inject cash into your business and better manage your cash flow through financial products that may be less costly than an overdraft.
Identifying and managing risk
Many businesses aren't aware of the risks they're exposed to when they import, export, borrow or save. It’s therefore helpful to understand these risks and find solutions to protect your business against cash-flow issues or reduced profitability.
When trading internationally, you can protect your business against the risk of not getting paid or receiving goods and services, as well as fluctuations in currency exchange rates which could impact profit margins.
Finding ways to manage the cost of borrowing for your business can have a positive impact on your cash flow and profitability, helping to protect your business against unexpected increases in interest rates, and allow you to forecast cash flow more easily.
Get in touch
If you’ve missed payments on your account or you’re worried about missing them in the future, please contact us. The sooner we know the sooner we can help you put a plan in place to manage your repayments. If you have a named Relationship Manager you should contact them in the first instance. If not, please speak to someone in the Business Management Team on 0345 072 5555 or +44 1733 347 338 if you're outside the UK.
If you have a hearing or speech impairment you can use Relay UK. More information on the Relay UK Service can be found at https://www.relayuk.bt.com.
Important Legal Information
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Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.
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