4 Ways Small Businesses Can Save Money

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February 20, 2019
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March 20, 2019
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Whether you’re a solopreneur or a large corporation, every business can benefit from saving money.  Here are 4 ways to cut expenses quickly for your small business.

  1. Reduce Paper.  Just like cutting down on your energy usage to save on utilities, reducing your paper usage can save you a ton of money by the end of the year.  Go digital whenever possible!  In the digital age, we can now sign and send documents electronically, email receipts, and even store documents in cloud based systems.  When you must print, print double sided with smaller margins and font sizes to maximize each sheet.
  2. Hop on board the telecommuting trend.  Today, more businesses and government agencies are utilizing telecommuting than ever before.  Telecommuting can be an incredibly efficient means of doing business.  Employees have the advantage of doing business from home or a remote location while employers have reduced overhead expenses associated with the office space these employees would use in a traditional work environment.  Take advantage of telecommuting and you can find yourself saving thousands of dollars annually in your business.
  3. Don’t go for brand new equipment.  Buying gently used equipment can save your business a ton of money.  Desks, filing cabinets, printers, and fax machines (do people still use fax machines?) can all come second hand in great condition at a fraction of the cost of brand new.  Keep an eye on Craigslist and auction sites for great deals on gently used office furniture and equipment.
  4. Don’t underestimate the power of bartering.  Using a barter or trade agreement can be a wise maneuver to save money in your business.  A restaurant next to a concert hall, for example, would be wise to trade gift certificates for advertising inside and around the concert hall. While you should use barter and trade with caution, the right exchange agreement can greatly benefit both businesses.

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