SAVE BIG MONEY FOR YOUR SMALL BUSINESS

In these times of economic uncertainty, money is indeed tight. Particularly in the case of small businesses, where there are perhaps even less guarantees than in larger firms, managers and owners may find that they are struggling to keep their companies afloat. Of course, every business is different and there could also be any number of other reasons why your business is not succeeding as it could. However, at very least, you can deduct a considerable amount of money from your monthly expenses if you think smart and save in the following areas.

WAGES

It is of course true that skilled, dedicated and reliable employees are the epicentre of any successful small business. In many small businesses, your employees in some way become part of the identity of your company. At very least they certainly help to shape it. However, wages are indeed some of your biggest expenses as a small business owner, so you must in reality look at ways of managing with reduced staff. In this case, look to freelancers, temporary help, volunteers or even students doing work placements. Naturally you won’t want to give too much responsibility to those who you aren’t paying. But if you are able to eliminate one weekly salary through sharing the reallocation of office responsibilities, then you are already on your way to big savings. Remember, as a small business owner, you should never employ anyone to do a job that you could quite easily fit into your own schedule.

TELECOMMUNICATION COSTS

Telecommunication facilities are now an essential aspect of most if not all small businesses. Accordingly, they generally represent a large portion of your daily outgoings. In spite of this, you can in fact cut costs considerably if you are willing to exercise a little discipline and perseverance in this department. Perhaps the most obvious way to do this is simply to turn things off when they are not in use. You’ll be surprised at the savings you are able to make over a long term period by exercising a little discipline in this area. Regarding your telecommunications package, most companies will offer bundles and may even offer discounts for businesses. Remember, companies will want your business, so never settle for the price that you are initially quoted. Be sure to check back on a regular basis to see if they are able to offer your small business a better deal. It also never hurts to threaten them with moving to a different service provider.

SAVE ON THE LITTLE THINGS

Besides the bigger costs of employee wages and telecommunication overheads, there are countless little things you can do to ensure maximum savings on your overall company expenditure. For example, always purchase recycled printer ink containers instead of buying new. Save coupons wherever possible, and keep a tight rein on things with a well formatted Excel sheet. These can help with getting discounted cleaning or office supplies. And look for free computer software alternatives. There is no sense in spending thousands if you can get the same job done for nothing.

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