Step 2 Work out your business and household budget

​Reducing your business outgoings

You can look at your fixed and variable costs to see if anything could be reduced. This could help to increase the amount the business can afford to pay you (your drawings).

Fixed costs

Although these costs are usually the same each month, there are still ways of reducing them or managing them more easily.

Business rent


professional advice

Always get professional help from your accountant or business adviser before making any drastic changes to your business.

You could try to negotiate better terms with your landlord on your business rent, especially if the property is likely to be difficult to rent out to someone else. If your landlord will not reduce the rent, you could think about whether to end the lease or pass the lease on to someone else and look for cheaper premises.

See our fact sheet:

Business property leases.


It may be that you don’t need business premises to trade. Think about whether you could trade from home to save you money on business rent, business rates and utility bills.

Business rates

See our fact sheet:

Business rates. 

You may qualify for a reduction on your business rates bill, depending on where your business is and what type of business you are. The rules can be complicated and you would need to contact your local council to find out what you are entitled to. Contact us for advice.