• Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions
Saturday, February 27, 2021
No Result
View All Result
ABC Money
PR Fire Press Release Distribution
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
  • News
  • Business
  • Economics
  • Finance
    • Investment
    • Tax
    • Mortgage
  • Property
    • Utilities
  • World
  • Technology
  • Fashion
  • Health
  • Holidays
ABC Money
No Result
View All Result
Home Business

6 cost-cutting tricks for small businesses

by Claire James
14/05/2020

For any business finding new ways to save money where possible is always a smart move. But for a small business, it can make a huge difference. If you’re a start-up, in the early stages or have been up and running for a while, making a few clever cuts can really help save the pennies. Here are just a few ways to do this.

Go digital only

This might be tricky – or near impossible – depending on what industry you are in. But going digital-only can help save on printing costs and save on the hardware itself, paper and ink or toner. Unless each staff member has an allowance, printing can be done freely and become a hidden cost eating away at your budget. And by going digital, you will also boost your eco status. It will take some adjusting, but if you are a business where printing is not essential, it is worth looking at.

Go green

Going digital-only is not the only way to boost your green credentials and save money at the same time. Whether you are a business based at home or rent an office to operate out of, there are some simple adjustments you can make to go green and they all come down to one thing: energy.

With lights, computers, printers and the many coffee rounds, it is easy to see how the energy bill can climb. There’s one simple thing you can do to reduce these costs: installing LED energy-saving bulbs – these bulbs have been found to cut the electricity bill in our homes by 90%.

Find the middle ground

If you have been running your business from your home, you may now have reached a crossroads in the running of it. Have sales boomed and you are now running out of space to contain your stock? If this is you, you may now be thinking about renting a small office space to work from and store your items. However, this can be costly and see you tied in with long contracts. A cost-effective solution is to rent a self-storage unit. Storage units, like these available from Cubic Storage, are a safe and secure way to free up space and still run your business effectively.

RelatedPosts

Tools That Every HR Manager Absolutely Need

How to Use Web Forms to Collect Customer Feedback

HR’s Tips On How To Resolve Conflict In The Workplace With Minimal Losses

5 Ways to Build Business Credit

Load More

Reduce meetings

Have you ever sat in a meeting and thought: ‘this isn’t needed right now’? Well, an unnecessary meeting can actually be a great cost to your business. Want to find out how much your Monday morning meetings are costing. You can calculate the true cost of your meeting here. You can reduce meetings by using a traffic light system. If the issue is red, you can make it a meeting to be addressed urgently. If it’s a green, you can ask for it to just be an email.

Invest in technology

Technology has evolved massively. There is not a sector which has not been touched by the advancements made, so take full advantage of this. If your current computer is running on the slow side and the printer regularly loses connect, it might be time for an upgrade. While this is a cost to the business, in the long run, it can boost productivity and efficiency.

Get tactical with your travel

This one can save you a lot of cash, but with some clever planning. If you need to travel for meetings and events, you should aim to plan as far in advance as possible. As the saying goes: the early bird catches the worm. And in this case, the early bird gets the best deals. If you need to drive, look at leaving before or after rush hour, that way you won’t be wasting fuel or time being stuck in traffic. If you choose to catch the train, here a few things you can do to save (quite a few) pennies.

  • Avoid peak times – this is usually early morning and late evening, Monday to Friday
  • Split the tickets – it can sometimes work out cheaper to split your tickets and in some cases these do not even require you to get off and change.
  • Get a railcard – if you qualify then a railcard offers you discounts on travel. Great if you’re a frequent traveller.
  • Avoid booking fees – While it may not seem a lot at the time all those little booking fees will soon add up.

There are many ways to cut costs in your business, from changing a lightbulb to planning more efficiently. While at first, these may not seem to make huge savings, over time, they will make a big difference to your overall spend. Thinking outside of the box and making the small changes now will make the biggest impacts later on.

Previous Post

How to Use Bitcoin in 2020

Next Post

How to Get Guaranteed Payday Loans with instant approval?

Related Posts

Tools That Every HR Manager Absolutely Need
Business

Tools That Every HR Manager Absolutely Need

26/02/2021
How to Use Web Forms to Collect Customer Feedback
Business

How to Use Web Forms to Collect Customer Feedback

25/02/2021
HR’s Tips On How To Resolve Conflict In The Workplace With Minimal Losses
Business

HR’s Tips On How To Resolve Conflict In The Workplace With Minimal Losses

25/02/2021
Next Post
How to Get Guaranteed Payday Loans with instant approval?

How to Get Guaranteed Payday Loans with instant approval?

A Detailed Beginner’s Guide to Invest in Stocks

A Detailed Beginner's Guide to Invest in Stocks

Top Tips Brits Can Use to Save Money

Top Tips Brits Can Use to Save Money

Latest News

The Forex market starts with Traders Union

The Forex market starts with Traders Union

26/02/2021
5 Most Common Causes Of Clogged Drains

5 Most Common Causes Of Clogged Drains

26/02/2021
Energy Smart Products Useful For Your Home

Energy Smart Products Useful For Your Home

26/02/2021
Tools That Every HR Manager Absolutely Need

Tools That Every HR Manager Absolutely Need

26/02/2021
Trust is what drives a moving industry

Trust is what drives a moving industry

26/02/2021
How to Use Web Forms to Collect Customer Feedback

How to Use Web Forms to Collect Customer Feedback

25/02/2021

Social

Contact

For editorial enquiries:

editorials@abcmoney.co.uk

For advertising enquiries:

advertise@abcmoney.co.uk

Top Topics

  • News
  • Business
  • Finance
  • Property
  • Technology
  • Investment

Guides

  • Best UK Bridging Loans
  • Best UK Secured Loans
  • Best UK Commercial Mortgages
  • Best UK Business Loans
  • Best UK Payday Loans
  • Best Sites for International Money Transfers
  • Best Press Release Distribution Service

Social

  • Home
  • Authors
  • Write for us
  • Advertise
  • Contact
  • Privacy Policy
  • Terms and Conditions

© 2020 ABC Money

No Result
View All Result
  • Write for us
  • Contact
  • About Us
    • Authors
  • News Desk
    • Business
    • Finance
    • Property
    • Technology
    • Investment

© 2020 ABC Money

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.