Small business owners may feel like they’re forever paying money out, but not getting much back in return.
Of course, we all know that in order to grow, investing in your firm is an absolute necessity, but there are ways you can enhance your business and save money at the the same time – you just have to know where you can trim cash and save those precious pounds.
Read on for some simple tricks that could save your business money.
Virtual office spaces
For small businesses just starting out, paying for an office space can be a real waste of money, especially when there are plenty of low-cost alternatives out there.
A virtual office is not only an affordable option, it also offers much more convenience and flexibility when compared to more traditional workspaces – which typically have high rental costs.
Most virtual offices come with standard packages that include a dedicated corporate mailing address, reception services for times when you can’t answer a call, access to workspaces and the use of meeting room facilities.
What’s more, having a virtual office address looks much better than having your own personal one on invoices, business cards and your website. In short, it’s is a good way for start-ups to maintain a professional image without having to fork out on rent.
Get tech savvy
Spending on technology can be astronomical, so it’s no wonder lots of small business are reluctant to do this. However, what many company heads don’t realise is that the right IT infrastructure can lead to huge savings in the long run.
If you’re an SME and you haven’t already made the move to cloud technology, now’s the time to make the transition if you want to save cash.
It reduces overheads, allows employees to work while on the go, streamlines processes and improves productivity – surely those are enough reasons to convince you this is an indispensable move?
The trend for employees to use their own mobile devices at work is growing rapidly and not only does it help to increase productivity levels among staff, it helps to decrease overheads.
Bring your own device – or BYOD as it has been termed – is reshaping the way businesses work. It opens up the door to flexible working, while limiting the level of support your firm needs from an IT department.
Both of these factors can lead to savings, as more people work at home the amount of office space you need decreases. When combined with cloud computing and business apps, BYOD allows for greater collaboration and increased productivity. What’s not to like?!
Reduce travel costs
There are a number of ways firms can reduce the amount of cash they are forking out on travelling, but perhaps one of the most effective is by using conference call technologies to hold meetings with clients.
By using audio or video conference call tools, it reduces the amount of time and money wasted on travelling to and from the office.
Another plus point is that this is a greener way of working and can help companies make a conscious effort to reduce their carbon footprint. And the technology isn’t limited to client calls, it can also be used to hold team meetings and for colleagues to collaborate with each other if they work away from the office.
Going green isn’t only good for your wallet, it also helps to project a positive image for your company. Given that most of the FTSE-listed companies are falling over each other to be seen as the most environmentally friendly firm out there, you can’t go wrong trying to follow in their footsteps.
Conference calling has already been cited as a good way to reduce your carbon footprint, while there are also a number of things you can do in the office to make it a greener working environment.
Making sure electrical devices aren’t left on standby, for example, is one such thing you can do. Turn off all computers and printers before leaving the office at the end of the day. Make sure lights are switched off too – or even better, get motion sensor ones fitted so electricity isn’t wasted.
The good news is that, as well as helping with your business image, these green measures will also help to lower energy bills.