Make me richer: how to save money by shopping around
Insurance cover for nasty falls
As the owner of a fruit and vegetable shop in Dublin, rotten apples are the least of your worries. You're more concerned about the chances of a customer slipping and falling on grapes.
If a customer were badly injured in such a fall, you could easily have to cough up €60,000 in compensation. Public liability insurance, which covers you for any injuries in your shop, is therefore a must. Cover for a fruit and veg shop with €35,000 worth of stock and an annual turnover of €350,000. Between you and the other full-timer in the shop, you earn €65,000 a year. You've got property insurance for your shop – where you've insured the contents for €60,000, and the building for €200,000. Public liability insurance quotes are from Chill Insurance.Best: AIG €520.38
Avoid: Aviva €1,053.41
Contact www.chill.ie or 1890 302020
BROADBAND FOR YOUR B&B
You run a large b&b in the country and, although you've a good choice of wireless or satellite broadband, you'd prefer to get your broadband through a phone line or cable. You're lucky enough not to be completely out in the sticks, so you can get broadband through a phone line or cable – but only if you go with Eircom or UPC. Eircom's new eFibre network – which offers download speeds of up to 70Mb – should be in your area this month. You want a broadband small business package that allows you to download between 70Mb and 75Mb of data. You need a telephone line as well.
Best: UPC €828 a year
Avoid: Eircom €1,031.52 a year
Contact upc.ie or 1800 924220
MOBILES PHONES FOR YOUR STAFF
You've just set up a small business where six of your staff will be regularly out and about chasing customers. Although they all need a phone to make business calls, they already have their own mobiles. To save costs, you're going to offer them a Sim-only plan. This will allow you to cover the cost of their calls – but save you the expense of buying them a new mobile phone. You want Sim-only plans that offer unlimited calls and texts to Irish mobiles on any network – as well as unlimited calls to Irish landlines. You want the cheapest price for six Sim-only plans over a year.
Best: Three €1,440 a year
Avoid: O2 €3,528 a year
Saving: €2,088 a year
Contact www.three.ie or 1800 949 521
OVER-THE-TOP COURIER BILLS
You run an online gift company which has become very popular in England, so you're paying through the nose to send couriers across the Irish Sea. Paying individually for each courier will cost a bomb – but if you buy a bundle of courier tickets in advance, you'll save a packet. We look at the rates offered by Fastway Couriers for parcels up to 30kg to be delivered to Britain within three days. Prices are for a small business that sends 10 parcels a week from Dublin.
Best: Fastway Frequent User package €165 a week
Avoid: Fastway Standard User package €275 a week
BUSINESS LOAN OF €50,000
You could struggle to get a business loan from your bank – this column found it was like pulling teeth when we went to ask some of the banks to tell us what interest they would charge on business loans! Neither Ulster Bank nor Danske Bank would say what interest rate they'd charge on a small business loan of €50,000 – and Permanent TSB isn't lending to small businesses currently. Only Allied Irish and Bank of Ireland would quote their rates. Are you sitting comfortably? You're looking for a €50,000 business loan from your bank – to be repaid monthly over five years.
Best: Bank of Ireland €7,637 in interest over five years
Avoid: AIB €8,699 in interest over five years