Keep your income high and expenditure low with these top tips on how to save money for your business.
Save money and help the environment by going paperless. Although it’s inevitable that some documents will need to be printed out, it also surprising how much paperwork can be kept online when a paperless plan is put in place. Gather your team and collate a list of what is printed each week and how much is spent on ink and paper, then sort into print and online categories. Send invoices and correspondence via email as you’ll also save on stamps and envelopes.
You should also consider using recycled ink cartridges and collect used, non-confidential paper for less important note-taking and doodling. For more tips on how to go paperless check out Forbes’ ‘5 Steps to a (Nearly) Paperless Office’.
Virtual phone numbers
Take your business worldwide without costly connection fees by investing in virtual phone numbers. For example, Capital Telecom provides businesses with the opportunity to increase their international presence by appearing to have offices worldwide with their virtual phone number package.
To a prospective customer a locally-based company means a small, friendly team and personalised customer service. Capital Telecom offer virtual phone numbers in 55 countries – including big cities in South America and Asia – so it’s a great way to expand your business but remain in complete control of all incoming phone calls thanks to the online control panel.
If you’re just starting out and want to save money on office furniture, consider taking a trip to an upcycling centre, market or car-boot sale to grab some cheaper, used items. Restore and decorate them to reflect your brand so customers and clients get a feel for the business as soon as they step foot in the office. Make it a team effort and get staff involved to personalise their own chair and table – it’s a good team-building activity and gives employees the chance to express themselves in fun and creative ways. You could even get the more artistic team members to decorate the walls with drawings and images to make your office space completely unique.
Shared office space
If rent is your biggest business expense you could consider sharing an office space to half monthly rent costs. If you can afford to sacrifice some space or are willing to leave your current office in search of a building that’s already set up for shared ownership you’ll be able to save big. Be tactful with who you invite to share the space: chose a company that complements not competes and a team that’s a similar size to your own so the office feels equal.
Not only will the move keep rent costs down, it might also increase business, especially if both companies are willing to partner up and recommend one another to their existing customers. If the partnership works you could also think about splitting the cost for other expenditures such as paper, ink, tea and coffee.