In today’s economy it pays to be thrifty especially when running a small or start-up business but how can you cut costs without letting your quality of service or product suffer? The key to dealing with business austerity is to make the small changes that make all the difference and focus on the everyday expenses that leave you out of pocket. We’re here to offer their top tips on cutting your business costs… forget super-scrimpers, we can get your business working productively on a budget to make your profits more profitable!
RESEARCH BUSINESS RATES
Before setting up your office, do your research. Business rates are an expenditure often overlooked by small or start-up businesses so if your budget is tight, conduct research into which areas offer the cheapest rates, it may just get you a great deal!
OUTSOURCE COSTLY TASKS
Hiring freelancers instead of recruiting in-house is a great way for businesses to save on everyday practices. If you are looking to maintain your company blog or social media platforms, consider enlisting the help of a freelance copywriter or social media guru. They will be quick to devise a package that works with your budget and you can then profit from expertise that you wouldn’t be able to afford if you were hiring the same caliber of professional full-time. Just make sure to keep a good track of all this activity. Spreadsheet errors can be costly if it’s part of your core business.
IT’S WHO YOU KNOW…
When expanding your team, many companies rely on the specialties of recruitment agencies but these can be costly. Instead rely on your own network of friends, family, and acquaintances to hire reliable staff through word of mouth, you’ll find it much easier to check their credentials as well as cut the cost of recruitment.
HUDDLEBUY BUSINESS DEALS
Huddlebuy is essentially the Groupon for business people, it has hundreds of the best deals in business to help your company start, run and grow. Membership is completely free, and it is the perfect place to find daily deals for small to medium enterprises with a range of giveaways, freebies, and business benefits. It’s looking like it’s might be merged with Perkbox soon, so get in there while you can!
DO YOUR OWN ACCOUNTING
Accounting is also a major expenditure for small and start-up businesses so why not handle payroll and other accounts yourself online for a fraction of the cost? There are a number of online-based accounting software portals, which can be used to find a more affordable payroll and bookkeeping solution for your company.