Business Daily Media

Creative Ways To Save Money As A Small Business Owner

  • Written by Alex Sanders


You’ve probably already run down the list of traditional ways to cut costs for your business, and now it’s time to get creative.  

Sure, there’s merit to paying your bills on time, bartering with vendors, and working to integrate cloud operations, but there’s always more you can do to trim the fat from your monthly budget.  

Giving your business more money to put towards growth is essential, and here are a few ways you might be able to step a little closer to reaching your growth goals.  

Find ways to minimize regular expenses

There are some things your business just needs each month, and you can’t cut out the expense completely.  However, if you can get creative, you may be able to find a way to lessen the cost of the recurring expense.  

Take this example into consideration.  You have a business that has the need for a large dumpster.  That dumpster has to be emptied every time it’s full, and that costs your business money.

You could cut down on the cost of having it emptied by hiring a smash my trash operation.  Compressing the trash in your bin will help you dump more before ever having to bother with the process and cost of emptying.  

Use freelancers and remote staff

It’s more cost effective to hire freelancers to do certain intermittent jobs than it is to hire and train a new staff member that may sometimes sit idle.  Hiring a capable and competent freelance professional will grant your operation quality work for the times when it is needed most.  

Instead of hiring a freelancer here and there, you could consider the benefits of hiring a remote staff.  If your professionals all work remotely, you get out from underneath your massive monthly overhead (or at least the bulk of it).  

Network and barter with other business owners

Communicating with other business owners inside and outside of your industry can make way for some lucrative connections.  If you and the guy down the street have complimenting services, you could find ways to work together to boost both businesses at once.  

Think secondhand in terms of office equipment

You could save a chunk of money when purchasing equipment and furnishings for your office space.  Second hand couches aren’t any less comfortable than brand new couches, and your office could benefit from the discounted pricing.  

Adopt a BYOD policy within your operation

Speaking of office equipment and furnishings… you could help your business save money by adopting a BYOD (bring your own device) policy.  Ask that your team bring their own smartphone or tablet to work, and you’ll save thousands to be put to work in other areas of your business.  

Business Daily Media Business Development

Mortgages Vs. Equity: Quick Guide To Understanding The Difference

Investing our money is a priority to generate a passive income. Also, avoiding the money not used starts losing its value. Investing in real estate has become one of the most popular met...

Ariana Mortenson - avatar Ariana Mortenson

Everything You Need to Know About Portable WiFi

If you're like most people, you can't live without the internet. In fact, many of us rely on it so much that we take it for granted. But what happens when you're out and about and there...

NewsServices.com - avatar NewsServices.com

Raising UK state pension age to 66 has seen big increase in working 65-year-olds, but particularly deprived women

Retirement is not what it used to be. Gary CraigThe UK state pension age has been rising in recent years, most recently with a staggered increase for both men and women from 65 to 66 between...

Laurence O'Brien, Research Economist, Institute for Fiscal Studies - avatar Laurence O'Brien, Research Economist, Institute for Fiscal Studies

Five rules for effective leadership in difficult times

Vlad Chorniy/ShutterstockAfter another punishing year dominated by COVID, the omicron threat appears to be receding and many people may now be looking at the beginning of the end of the pand...

Christian Harrison, Reader in Leadership, School of Business and Creative Industries, University of the West of Scotland - avatar Christian Harrison, Reader in Leadership, School of Business and Creative Industries, University of the West of Scotland

Turning resolutions into short-term survival and long-term growth tactics

Few Australian industries have been harder hit by the pandemic than hospitality. After two years of lockdowns, social distancing restrictions, staff shortages and supply chain woes, 2022...

Paul Hadida, General Manager, APAC at SevenRooms - avatar Paul Hadida, General Manager, APAC at SevenRooms

The ‘baby bust’ is set to kick-off an AI-boom

The Australian workforce is set to see almost an entire generation retire within the next 15 years. Firstlinks predicts that there will be more baby boomers exiting the workforce than 15-y...

Andy Mellor Regional Vice President of Australia at Kofax. - avatar Andy Mellor Regional Vice President of Australia at Kofax.



NewsServices.com

Content & Technology Connecting Global Audiences

More Information - Less Opinion