At Guardian Tax & Accounting we can provide start-up businesses in the London area with help and advice. Here are some basic considerations regarding suppliers and purchasing.

When it comes to building a market and servicing it, you and your suppliers are on the same side, so you should consider trying to build a relationship with them that reflects that.

Sit down with them as 'partners' and try to work out an arrangement that benefits both parties.

Try to identify:

  • Products you can order in larger volumes in exchange for volume discounts
  • Orders you can discontinue because you can buy more cheaply elsewhere
  • Ways to revise delivery schedules to reduce your stock keeping costs
  • Opportunities to share marketing or promotional costs
  • Ways you can exchange information to improve efficiency at both ends

In a period of economic difficulty or uncertainty, remember that suppliers might raise their prices, so try to negotiate a long-term discount with them.

You could also consider putting all major costs out to tender on a regular basis.

If you are starting a business in the London area and would like help and advice, contact Guardian Tax & Accounting.

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Tel: 020 8445 1228 | Email: info@guardian-ta.co.uk

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Our Office: Guardian Tax & Accounting, 69 High Street, Southgate, London N14 6LD
Tel: 020 8445 1228 - Email: info@guardian-ta.co.uk

Guardian Tax & Accounting is a trading name of Sairides Consultancy Services Ltd, a private limited company, registered in England and Wales under company number 09976058. A list of principals is available on request from our registered office. We are a member firm of the Institute of Chartered Accountants in England and Wales under firm number C005253500

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