Top Ways To Save Money In Your Business

BusinessWith 0 comments

Saving money in your business is always advisable, and there are some easy ways to do this with simple swaps or clever ways to buy things, take a look at these top tips, and you’ll be counting the extra in your bank account in no time.

Look Out For Discounts

Save money on by getting office supplies and equipment — everything from pens and paper to printers, toner, computers, desks, chairs, electronics and software only when there are huge discounts on the items that you need. Have a look at apps and tools like RankTracer.com to get up-to-the-minute updates on prices or try Slice App to track packages and take advantage of price drops.

Negotiate With Your Suppliers

Take a good look at your operational expenses and see where you could potentially save some money. Call each of your suppliers and see if you can renegotiate your rates; you never know what savings you might make.

Stop Recurring Services

Many people have got subscriptions to services that they’re no longer using, review your credit card statements monthly to flush out those, small, low-cost services that ultimately add up to a significant cost. With just a few clicks and emails, you can save a lot on overall costs.

Turn Off Your Computers

Leaving your computers on overnight can add $200+ a year in unnecessary energy consumption, so depending on how many computers you have in your office, this could be a tremendous savings opportunity for any small business.

Take Advantage of Free Software

Look at sites such as Download.com to try hundreds of software products for free trial downloads, freeware and limited versions of the full product.

Buy Second-Hand Equipment

You can save over 50 per cent by buying used computers, copiers, office furniture and other equipment. To find some great second-hand kit, have a look at auctions, social media and newspaper classifieds for leads.

Try a Co-Working Space

Co-working spaces are a great solution for any business and they eliminate the high overhead. Co-working spaces are really popular now and popping up all over the place so there’s plenty to choose from and it’s nice to work in an environment with other small business and great for making contacts.  

Do Your Own PR

Be creative, do some research, get as many tips as you can and ask people for some ideas on how to get your company noticed and talked about.

Implement an Energy-Saving Strategy

Upgrade your lights and new office hardware including computers, phones and a copier, and install a fan to circulate the air instead of using air conditioning all day.

Advertise Jobs Locally and on Social Media

Advertising jobs on sites like Monster and CareerBuilder are expensive, and you end up with hundreds of applicants that flood inboxes, instead, post job openings through career centre portals at local universities. You can also save money by leveraging social media and posting your jobs on Facebook and LinkedIn.

Cover Photo by rawpixel.com from Pexels