With a down economy and tighter budgets, small businesses are looking for ways to save money. Fortunately, there are many cost cutting tips that a small business can implement. A few ways to cut costs involve going green, examining the technology your business uses, and using less expensive alternatives to traditional advertising.
One of the best ways to save money is going green. Not only will it cut down on your business’ costs it can serve as a selling point to customers. Some easy ways to go green are include using florescent light bulbs instead of traditional bulbs and turning off lights and electronics when the office is closed. Install a digital thermostat to correspond running only with your work hours. Improving insulation will keep your heating and air bill lower. Recycling is becoming a more mainstream environmentally friendly action but not everyone does so. Removing those recyclable items may keep waste management prices down depending on what service you use.
If your business uses vehicles on a regular basis, consider looking into more fuel efficient vehicles. Two ways to improve fuel efficiency on existing vehicles are to keep the tires properly inflated and to remove excess weight from the vehicle. Regular maintenance will also help with fuel efficiency and help increase the life of the vehicle.
Another way to save money is to review your technology. Consider dropping the number of phone lines for your business or switching carriers if another company offers similar service for a lower price. Laptops consume less energy than desktops so when upgrading computers, consider whether laptops are an option for your office’s workload. Printer ink can be costly. Recycled ink is available at a lower price, though it may void warranties or service contracts, so be sure to review existing contracts before making a switch.
Social media can serve as a great source of inexpensive promotion. Although there are expenses associated with staff time to maintain them, a company Facebook page and Youtube account cost nothing to use. Study whether using email to supplement or replace your traditional mailed company newsletter to save on stamps, paper, ink, and envelopes is a viable alternative. Are there some processes that could be automated in your office to save on staff time?
These are only some of the many ways you can start saving your small business money. However, there are many other ways to save. Take a few minutes to discuss ideas with your employees and consider rewarding those that actively work to save the business money.
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