Four easy tips to cut costs this summer

As temperatures and operational costs rise, take a moment to review your business to ensure you're getting the most value for your money. Often small and easily overlooked aspects of your business could be costing you more money than necessary. Below are a few tips that could lead to significant savings.

1.    Frugal fridges To ensure that your refrigeration equipment is running efficiently, regularly clean the coils, inspect the seals, check temperatures and assess motor function. Ensure fridges are not placed next to heat sources as this will cause them to work harder.

According to Sustainability Victoria, hospitality businesses that upgraded and maintained their refrigeration saved up to $9,000 annually and it took less than 18 months to pay back the investment.  

2.    Don’t turn a blind eye to window furnishings Reduce your reliance on air conditioning by using window shades, furnishings or tinting, especially on north and west-facing windows. This will reduce heat transference – you’ll notice the difference in your bills!

3.    Bin There, saved that How much are you spending on your commercial waste service? Since landfill waste is the most expensive category, consider sorting your waste into more cost-effective options such as recycling, organics and paper. 

Not sure what belongs in each bin? Visit this link to find out. 

4.    Thermostat tactics Effective management of your heating and cooling systems can reduce your energy bills by up to 50 per cent, particularly for hospitality businesses dealing with hot kitchens. Set the thermostat to: •    24°C in summer •    20°C in winter

Even one degree higher or lower can add five to 10 per cent to your bill.

To further limit heat entry or loss, consider the following. •    Draught proofing •    Insulation •    Shading •    Window tinting

The good news? There’s plenty of resources available to assist you in becoming energy-efficient. Visit this link to discover more about the Victorian Energy Upgrades program.

The federal government’s Small Business Energy Incentive also provides eligible businesses with a 20 per cent deduction on spending that supports electrification and more efficient energy use. Find out more here.