How Can Small Businesses Save Money?

Startups are the new trend. It is a good thing that more and more people want to own something of their own and become entrepreneurs instead of working at big MNCs. However, starting a business is not a joke. It needs a good amount of capital with serious investors or venture capitalists. Unless they get funding, it is not possible for them make their dream business a reality. With a limited amount of funds, they need to be very careful with money, especially when it comes to expenditures. Curtailing office expenses, hiring interns or employees, outsourcing work – there are several ways to save money. Here are some tips on saving for startups:

Switch Off Computers At Night

Switch off computers before leaving the office. Many companies don’t follow this as they think it will be easier to simply wake up the computer in the morning. But this might be the reason your energy bills are higher. Make it a part of company culture — to save energy whenever and however possible. In case you didn’t know, laptops are more energy efficient than desktops. Hence, do away with old-fashioned computers, and get some new and trendy gadgets for your office. The flexibility one has with laptops will keep the employers happy and reduce your office expenses as well.

Recycle Whenever Possible

Recycle your office printer, monitor, and ink cartridges whenever possible. There are a few office supply companies that might give you a discount if you let them recycle your stuff. That is a great way to save a few bucks as well as be friendly to the environment. Also, stay paperless as much as possible. Use a low ink cartridge and limit your printer usage in a day. Recycling isn’t only great for the environment but also for your business as well!

Save Energy At Office

Make it an official rule in the office to turn off lights and other electrical appliances whenever they are not in use. When training your new employees, promote energy-saving tips as one of the official rules. This will not only create a culture of environment-conscious employees but will also help you save a huge amount of money each year.

Opt for Green Office

When we say go green, we don’t mean change your office supplies to more eco-friendly options only. There are several other ways to go green that will actually save you money. For example, change your bulbs and lights to more energy compliant ones. That will save you a lot of money on electric bills, too. One other way to help the environment might be to have remote workers. If you cannot afford a completely remote team, then you can have at least one day a week when your employees can work from home. Imagine how much fuel you will be saving, and less traffic on road would mean less pollution, too!

Buy Used Furniture

If you are thinking that used furniture is a bad idea, hear us out first. Most offices try to achieve the look of perfection and sophistication with their decor and furniture. The office’s interior aesthetic is essential in order to make an impression on both clients and customers or even employees. But, if you buy used furniture, will you be able to achieve that goal? You can! But you need to be creative. Workplaces are changing their looks with time. Gone are the days when an office setting meant dull white walls, clear glass windows, and minimal decor. Modern workplaces are full of fun ideas. Instead of creating a formal, stiff environment, create a happy place with DIY stuff and pre-loved furniture. This will help the employees be more casual, work better, and even be more productive!

Negotiate Hard

Whenever you have recurring expenses for the office, try to clinch the best deal. There might be a shop that supplies bagels to your cafeteria; search in your vicinity for other shops who will do it for less. Also, when closing a deal, negotiate hard. Whether it is for office supplies, food from cafeteria, or computer parts, getting a discount means you are saving!

What about you? What do you do to save money in your small business or startup? If you have any other tricks up your sleeve, do share it with us!