Tide Toolkits: The smart products that will help you tackle the rising cost of doing business

76% of small businesses are being impacted by the cost of living crisis, and they’re doing everything they can to tackle it head on, as revealed in our second Cost of Doing Business survey 💪. At Tide, we’re on a mission to save you time and money – something that’s extra important during times like these.

We’ve handpicked some of our smart features that can support you and your business in the fight against rising prices. Spoiler alert: they’re ready and waiting for you to add them to your account in your Tide app.

Get paid on time 💸

Rising inflation and energy prices are a key concern for many small businesses. If you’re among them, it’s likely that you could do with ways to ensure your customers pay their invoices on time.

“Making sure you get paid promptly and chasing payment for unpaid invoices is vital.” – Philip King, former small business commissioner and Tide Cash Flow Expert

  1. Invoice Assistant

Chased invoices often get paid faster. Invoice Assistant does the hard work for you by automatically chasing late invoices and matching the payment to the correct invoice

  1. Direct Debit with GoCardless

Collect recurring or one-off invoice payments as soon as they’re due. Simply set up a Direct Debit mandate, and your customer will be notified before each payment is collected

  1. Tide Pro

Our new plan comes with unlimited free transfers*, so you won’t have to worry about additional costs when sending or receiving money

Grow your business 🌱

It’s not all doom and gloom though. 75% of small business owners haven’t even considered shutting down, despite the pressures of the cost of living crisis. In the wise words of Philip King, former Small Business Commissioner and Tide Cash Flow Expert: ​​“Small and micro-business owners are renowned for their optimism and resilience.” Why not prove him right and keep your business growing? 

  1. Cashflow Insights

View flexible and affordable funding options that are tailored to you based on your business activity. Better yet – we’ll show you products that you’re already eligible** for

  1. Tide Cashback

Take things to the next level. With Tide Cashback, you’ll earn money back (0.5%) every time you spend using your Tide card

  1. Expense Cards

Swap lengthy paper expense claims for our smart Expense Cards. Give your trusted team members the flexibility they need, whilst you keep track of costs in your Tide app

Set up for success 🏆

Did you know that Airbnb, Netflix and Uber were founded in tricky financial times? To reach your business dreams, you’ve got to make sure the right foundations are in place first. Our smart tools can help you complete the admin needed to set yourself up for success: 

  1. Credit Builder

Start building your business credit score now, so you can access a wider range of funding opportunities in the future. Credit Builder is designed to help you do that for less than £33

  1. Virtual office address

Get a central London virtual office address to keep your home address away from public view. We’ll scan and email your post to you, so you can keep up to date wherever you are

  1. Domain registration

Secure your business’s place on the internet. Once you’re registered, you can build your website, personalise your email address with your company name, and more

Save time on admin ✅

Our most recent Cost of Doing Business survey revealed that 63% of small business owners are upping their own hours during the cost of living crisis. But have you considered streamlining your business processes so you can have even more time to focus on earning money and growing your business, without increasing your working hours? 

Automate your admin with our tools to free up your time:

  1. Invoice Assistant

Our research found that UK SMEs spend around 1.5 hours per day chasing outstanding invoices. Invoice Assistant automatically chases late invoices for you

  1. Tide Accounting (only available for Sole Traders)

Speed up your Self Assessment tax return with Tide Accounting. It’s an end-to-end accounting and tax solution that helps you complete your compliance tasks

  1. Receipt Importer

Upload receipts to your Tide app, and add a note for you or your accountant if you need to. We’ll match them to the relevant transactions, and you can download hard copies from Tide on the web

  1. Accounting categories

Automatically organise your transactions into our HMRC-aligned categories. They match the categories on the SA103F Self Assessment form, making your tax return quicker and easier

  1. Tide Plus

Take your business to the next level and enjoy phone support, legal advice and a free Tide Expense Card by upgrading to Tide Plus

Note: Members, on any plan, can call the Fraud Rapid Response team by calling 159. Use +44 20 4587 0366 if you’re calling from abroad. Lines are open 24/7.

Wrapping up

Ready to add our time-saving tools to your Tide account? It’s easy to do so in your Tide app or Tide on the web. If you need a hand, check out our FAQs.

For more advice on how to navigate the cost of living crisis, including tips from former small business commissioner and Tide Cash Flow Expert, Philip King, take a look at:

*Tide reserves the right to charge you payment fees for any transfer that does not comply with our fair use policy. See our fair use policy for further details.

**Additional eligibility checks may be run when applying for Tide’s partner products. Cashflow Insights is a data analytics tool and should not be construed as financial advice. You should seek independent financial advice before making any decisions about your financial future, including before entering into loans or purchasing any credit products advertised by Tide.

Image by Christina @ wocintechchat.com, published on Unsplash

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