Business expenses affect the bottom line of any business. The ability to manage your expenses and reduce or eliminate time-consuming activities is one important way to improve cash flow, letting you and your employees focus on more productive activities.

Here are some useful tips:

• Stay on top of your expenses.
  Selecting the right mix of banking services will help you control and monitor them. Choose the Account Plan for business™ option that most closely matches your deposit and payment volumes and benefit from a low monthly plan fee. Get an accurate and up-to-date record of your transactions and balances. Even track spending by category and by vendor with online banking and business card expense management reporting services.
  
  
• Electronic banking is more convenient.
  Save time and money by taking full advantage of all the features of today's electronic banking services. For access to business and personal banking services with a single sign-on select Scotia OnLine® Financial Services. For additional convenience, use TeleScotia® telephone banking and wireless services which can be accessed through your regular phone, cell phone or your PDA, anytime and anywhere. Use your ScotiaCard™ bank card for deposits and withdrawals at automated banking machines or to make purchases by Interac*** direct payment. For enhanced cash management and payment services choose ScotiaConnect® electronic banking. Your Small Business Specialist will help you select the right electronic banking option for your situation. You'll get access to your banking, useful tools and resources and they're all available from whereever you happen to be.
  
  
• Outsource time-consuming administrative activities.
  Take tough administrative tasks out of your hands and give yourself more time to focus on client needs and business growth. Consider solutions such as arranging to outsource your payroll requirements. Talk to your Small Business Specialist or visit our Business Resource Centre available thorough Scotia OnLine for this and other practical time saving solutions.
  
  
• Manage risks.
  It's impossible to avoid risk in small business, but there are things you can do to minimize the impact of risk on your business and achieve peace of mind. You can review your insurance coverage and mitigate the risk of injury or death to key people in your business. Also consider arranging affordable Commercial Creditor Insurance protection that will help you and your family cope with outstanding eligible business debts.
  
  Explore the range of International Trade Finance and Foreign Exchange services to reduce payment and currency risks when doing business with trading partners outside of Canada.