Image by Rob ‘n’ Rae via Flickr
Owning a business in today’s tumultuous economy is no easy task. You must cut costs in every way you can to ensure the survival of your business. Here are a few money-saving tips to help your business save.
- Purchase laptop computers rather than desktop computers for your employees. Laptops consume about 90 percent less energy than desktops, thus saving you money on your electric bill.
- It may not be a purchase you fret over, but printer ink can be incredibly expensive. Review the ways that you use this ink, and encourage employees to avoid printing when they can. When you do purchase ink, consider buying in bulk or using recycled cartridges.
- Rather than hiring seasonal or general office staff, hire a college intern instead. College students can receive credits toward their degree in exchange for their work. You’ll reduce your payroll and boost your productivity.
- Mailing can be a significant expense, so spend a day reviewing what your company mails. Cut out mailings that you could be emailing instead. Remove changed addresses, undeliverable mail and inactive customers from your mailing lists as well.
- Use the Internet for free advertising. Ask clients if they’d like to receive email newsletters, where you update them on the happenings on the company and any new services or products you have. The return of investment on these efforts can be much higher than other advertising efforts.
- Review your phone plan to determine if you can be saving. See if you can bundle phone and Internet services to cut expenses in your bill. You may also be able to reduce the number of phone lines you have.
- Ask for help. IT consultants, for instance, can review your working habits and make recommendations to save you time and money.