#FridayMotivation: As your business emerges from lockdown you'll face a new set of financial challenges - from the end of the furlough scheme to deferred VAT bills. We could all do with a bit more money left over at the end of the month!

Here are our top cost-cutting tips

One good way to cut costs is business banking: Our bank switching services recently saved a Swoop customer £2000 a year!

Switching banks sounds like a lot of hassle, but it isn't. You can switch for free with the Current Account Switch Service - the bank does the work.

Choosing the right business banking provider is a crucial decision - that is often pretty time consuming

While you're probably more familiar with high street banks, don't rule out challenger banks like @RevolutApp.

Even if you stick with your current provider, consider opening an account with a challenger bank too to take advantage of the services & lower costs they offer.

If you want to use the Current Account Switch Service check to see which banks are included https://www.currentaccountswitch.co.uk/banksandbuildingsocieties/Pages/banks.aspx

Haven't got time to sift through pages and pages of deals?

We know that finding the time to compare deals when you're running a business is tough - that's why we started Swoop!

Our online comparison checker provides you with a personalised report showing how much you could save by moving your account to a wide range of high street & challenger banks.

We recently saved a Swoop customer £2000 a year!

Let Swoop do the work https://swoopfunding.com/bank-switching 

Another great way to cut costs is taking another look at how you handle international payments

If you use your bank as an intermediary you're probably paying too much - and the costs really add up

According to @MoneyMovr, UK SMEs pay £4 billion in hidden fees when they send their money abroad every year! Mostly due to the spread charged by their bank on the exchange rate.

Remember that second account we suggested you could set up with a challenger bank? This is one of the reasons you might want to set it up

Challenger banks typically charge a couple of pounds to process an international payment that high street banks can charge up to £25 for!

Finally, research by @fsb_policy shows that 62% of SMEs count energy as a significant business cost. Make sure you shop around when renewal time comes around

If the date isn't in your diary, stop reading this thread and add it in now!

You should be able to find a much better deal than the one you have at the moment because energy prices have dropped considerably

Why pay more for the same service?

Don't waste time trying to negotiate with your current provider - the best deals are saved for new customers.

As with bank accounts, the switch is managed on your behalf, so once you've signed up with a new provider you can let the utility companies take over the work.

Can't find the time to cut costs for your business? Let Swoop do the work for you https://swoopfunding.com 

Our free and fast online service has saved businesses over £8.2 million pounds so far.

How much could you save?