Some top tips for saving money for your business


August 9, 2013 Facebook Twitter LinkedIn Google+ Business training,Finance


Biz-find articles | Saving money

It doesn’t matter if you have just started a new business or are a seasoned veteran in the business world; everyone wants to save money wherever possible.

A little scrimping and saving can raise the extra money needed to go to something more useful or just keep the accounts ticking over nicely.

In this blog then I discuss some ways in which you can save money for your business.

Second Hand Office Equipment

When it comes to your office overhead why not look at buying recycled printer cartridges to save money. Similarly, you can look at purchasing used equipment such as furniture and even computing equipment. Unless you’re looking at chairs with the stuffing pulled out and computers as big as cars, you will usually find a good deal to be had and staff won’t kick up too much of a fuss – especially if you’re a new start up.

Cheap And Easy Marketing Tactics

If you post out invoices still, why not jam in some further advertising material – it may not save much for one or two customers, but if you’re sending out a multitude of invoices each month it can be a quick and easy way to save a fair bit of money on postage.

Utilise your existing contacts for referrals too. If they know people likely to be after the products you provide, ask them to connect you or give them your name and number.

Seek Out The Best Business Electricity And Gas Prices

Many people put up with high business electricity prices without really considering their options. By looking around at other suppliers you could easily save your business a decent amount of money. Look to the Green Deal (in the UK) for energy efficiency measures to help you save money even further, and just tell your staff to be a bit more strict when it comes to using lights and leaving equipment on. This can also be applied to gas as well as business electricity prices.

Staff

You could look to hire freelancers for projects and jobs rather than take on someone full time. Alternatively look at home-working if you are a new business as hot desking can be a great way to save a pretty penny.

You could also look at using a virtual assistant such as the systems operated by eReceptionist to help keep your costs down.

Bringing on board some interns is a good way to tap into the local community; if you establish a connection with a local school or college you could find you are able to establish regular internships. This is obviously cheaper than bringing staff on board full time, but you can also potentially find some great staff members coming through such schemes.

Social Networking

Although it is not saving you money as such, social networking sites such a s Facebook and Twitter could be good ways for you to draw in extra business and our well worth considering if you have not already set up  an account.

Of course every business is different so you’ll be able to identify some unique ways to save money to your business, but hopefully with this guide you will at least have some ideas on the ways in which you can save money for your business.

Louisa Jenkins is a freelance business advice blogger. She discusses everything from saving money on business electricity to ways in which to get your start up standing out from the crowd.

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