Cheltenham businesses are set to save hundreds of pounds on their running costs in a new scheme being run by Cheltenham Business Improvement District (BID).

The group purchasing scheme will see businesses benefit from lower bills in a wide range of areas.

Businesses in the BID zone will see savings in areas including:

• Utility bills, with electricity, gas and water all on the list

• Telecoms, including landline, mobile and broadband charges

• Merchant service costs, including card readers and online and telephone payments

• Waste and recycling bills

• Stationery and print costs

The BID has set up a partnership with Meercat Associates, who are specialists in sourcing and managing supplier contracts for businesses.

As part of the scheme, it is also working with Cheltenham-based insurance brokers MR Ratcliffe to ensure businesses have the correct insurance cover at the correct price.

BID Director Kevan Blackadder (pictured) said: "If you are a town centre business about to sign up to a rolling contract for one of your regular bills, our message is - don't!

"All the evidence is that you can save money by talking to our experts. By using the collective purchasing power of businesses, we can ensure that Cheltenham firms have the best possible tariff, and save both time and money.

"Switching suppliers can be a confusing process and businesses can ill afford the time it takes, so our experts will confidentially analyse recent bills and identify the best suppliers. They will also manage the switching process and arrange future renewals."

In the past, Meercat has brought together members from within the UK's 200 BIDs and have, over the past two years, identified more than £2,000,000 worth of savings for UK BID businesses.

Mr Blackadder said: "There is no charge, no commission and no catch. We are supporting businesses in the BID area and want them to benefit from the savings."

Last year, the BID launched a scheme to provide cheaper bus travel for staff of BID businesses.

It has proved very popular, with anyone travelling in the Cheltenham area able to buy a weekly ticket for just £10 and travel for seven days.

Staff from businesses of all kinds, including many who hadn't thought of bus travel before, have used the scheme to significantly reduce their commuter costs.