In this day and age it’s hard enough to get your business up and running never mind making sure to keep your expenditure to a minimum. So many small businesses are losing money that they could quite easily save with a few small changes. Here are my 6 tips to help your business start saving money which will in turn help you to grow and expand.
Plan out your employee needs
Something that every business needs is employees that know what they’re doing and, let’s face it; you can’t do everything on your own. However, employees cost money. Employees need wages, office space, insurance and training so my advice would be to think about exactly how much staff you need to run smoothly and make sure you pick the best staff available and that way they will be more capable and faster to learn.
Don’t be shy to negotiate
Something that a lot of companies don’t realise is that the prices your vendors and contractors state is not always set in stone. Sometimes it can be beneficial for you to try and negotiate a price. I’m sure you’ve seen the tasks on The Apprentice where they have to rent or buy goods on a budget and what you will learn is that the person you are buying from will be grateful for the work so they will on most instances budge on the price of their expertise.
Join the cloud
The cloud is a great bit of software for businesses these days and it is something that you really should convert to. The cloud saves so much money on hardware devices, and data storage that can all be done so much easier and cheaper.
Buy in bulk
There are plenty of companies out there who will deliver paper, ink and all other office necessities in bulk for a great price.
Don’t pay a fortune for the things that you can get cheaper at the same quality, shop around and see what deals you can get.
Sometimes staff sharing equipment can be very cost effective. A good example of this would be to use a company like Zipcar for your company car and this way all the staff can share the company car when they need to do so.
Get a smart meter
Energy bills can be crippling for small businesses so you need to measure your energy usage. A smart meter is the best way to do this and going green will reduce the costs drastically.