Money Saving Tips for Small Businesses
The New Year is here, and you’re probably thinking about ways to get a fresh start yourself! When you’re a business owner, you also need to consider ways to operate more efficiently and cost-effectively.
Here are a few ideas to help you improve your savings in 2016:
Minimize your paper usage.How often do you or your staff print something out, only to throw it away within the next few hours or days? Consider using online document sharing tools like Google Docs or DropBox, where team members can collaborate and make edits as necessary – rather than constantly replenishing your paper and ink supplies.
Look into the benefits of professional organizations.You can gain valuable connections through professional associations. But beyond that, you may also get access to benefits like health insurance savings, discounts on travel and office purchases, and more!
Let your employees telecommute.When you allow your employees to work from home at least some of the time, you may be able to maintain a smaller office space. Plus, believe it or not, studies have shown that telecommuters tend to be more productive — they work longer hours overall, and they aren’t interrupted by co-workers. Plus, online meeting spaces make it simple to hold team conversations from a distance.
Check your energy usage! An easy way to cut our electric bill is to change regular light bulbs out for LEDs or CFLs. The latest technology makes these bulbs just as aesthetically pleasing as regular ones, and many of them are designed to last for years!
Use independent contractors. Thinking about small tasks that need to be done regularly, but not daily. For these types of tasks — whether it’s designing marketing materials or maintaining computer systems — it may be less expensive to outsource on an as-needed basis. You’ll save on full-time salaries and benefits, but with a reliable provider, you can still get work done when you need it.
After you’ve saved some money by utilizing these tips, contact Horizon to learn about the variety of business savings solutions that will help you get the most out of your company's finances.