Small businesses are now finding it harder than ever to stay in the black. The main reason for this is because they are constantly having to account for increasing expenses. Controlling cost is now more important than ever before, and if you want to start doing that more efficiently then you can find out whatever you need to know right here.
Lower your Office Space Rates
Depending on the commercial real estate situation in your area, it may be more than possible for you to take advantage of a great deal. You could move your business to a cheaper area or you could even try and negotiate a better price with your landlord. If you don’t really need to run your business from a commercial premises then why not choose to work from home? You can even go mobile if you want. If you work in the plumbing, electrical or even bookkeeping trade then this is very easy to do, and you would be surprised at how much it could make a difference to your total expenses.
Cutting Staffing Costs
If your business has a few slow periods now and again then this is completely normal. It does help to look into reducing your staffing cost during this time. Most staff members would be more than happy to take some unpaid time off. It gives them chance to travel without using up their holidays and it even helps them to take a break from the stress of work. It’s a win-win for both sides, so don’t be afraid to offer this out to your team.
Energy savings can have a huge impact on your business expenses. It doesn’t take a lot of
effort to cut back on your energy expenses, but it can easily save you hundreds every single year. If you want to get some help with that then it may be worth you looking into ESOS compliance. This is a fantastic way for you to get the savings you need and faster than ever before.
Bartering has been around for generations. If you have a lot of excess capacity, then why not barter for a service that you have a high need for? If you are a website designer for example, and you constantly have a sore neck from being sat at the computer all day then you could get in touch with a chiropractor. They may need a site doing, and to save money, you could build their site while they get to work on your back problem. This is just one example of how you can trade/exchange services and if both parties can benefit then this can really help to boost the potential of your business.
It’s a known fact that bigger vehicles are far more expensive to run when compared to smaller vehicles. If you don’t need a van, why invest in one? You can save fuel costs by having something smaller, the insurance will be cheaper and you may even find that you save money on maintenance too.