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Simple ways you can save your business money

by on April 25, 2020 in Business, Lead Article, News you can use, Nuggets, Small Business, Startups

Simple ways you can save your business money

Nurturing your business from day one requires dedication, determination, and the ability to think ahead.

You also need to be able to make some pretty difficult decisions whilst under tremendous financial pressure.

The first year of any business is one that is going to be fraught with difficult financial decisions and even if you’ve planned everything meticulously, there’s always room for improvement.

If you’ve already used your savings to fund your start-up – click here to find out more about stocks and shares ISAs – then you might be reluctant to use any more until you see a return on your investments.

Therefore, the alternative is to save as much money as you possibly can from the day to day running of your business.

Here we’ll look at some simple ways you can save your business money.

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Avoid traditional marketing

From TV and radio ads to flyers, business cards, newspaper prints and other printed materials while all of these traditional forms of marketing have their own merits and advantages, they’re all incredibly expensive.

Therefore to save your business money, you should consider digital marketing solutions instead. Not only are they considerably cheaper, but you also can tailor-make your marketing strategies and specifically target people who may be interested in your products and services.

Remote working could be the key

Can any of the work done by your employees be completed from home? If you choose to allow your staff to work remotely then you could save money on business premises as well as the utilities, you need to keep them running.

Your workforce will be more flexible and enjoy a better work/life balance. From customer service to your IT team, there are plenty of options for remote workers.

Buy in bulk

Buying in bulk is generally cheaper, especially when it comes to office supplies. There are always savings to be had here. From laptops to ink cartridges, paper and other supplies, don’t be afraid to buy in bulk if they’re frequently used items.

Be smart with utilities

If you have business premises, then as mentioned above, you’ll be aware of how much it can cost to keep them running. However, you can save your business money if you decide to think smart. Programmable thermostats, smart, LED bulbs and even co-friendly options can help save your business money each year.

You should also check comparison sites to ensure you’re always getting the best deal for your utilities and other providers.

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