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5 Ways to Cut Business Costs in the New Year

By Edited Nov 13, 2013 0 0
5 Ways to Save Your Business Money
Credit: http://smallbiztrends.com/2011/01/5-steps-to-help-your-small-business-save-money-in-2011.html
  1. Go green. Besides being a very trendy way of doing business, going green can be a great way to reduce business costs.  Adopt a new office motto to reduce, reuse and recycle.  To start, put a recycle bin in a central location in the office as well as at people’s desk.   Recycling can be an easy habit to form, especially in an office space where there is so much paper product being used.  You can also encourage your employees to bring their own reusable water bottles and coffee mugs to work and to try and use paperless communication when possible. (i.e. email, chat, electronic file transfers, etc.) Other things to consider include replacing all light bulbs with energy efficient bulbs, purchasing energy star appliances and turning off office equipment when not in use.  Also, when it comes time to get rid of your electronic office appliances, consider donating them to a charitable organization and save your business the disposal fee. 
  2. Get rid of your landline. While this may not be an option for every business, it is definitely something to consider, especially for businesses who frequently make long distance or international calls.  A cost-efficient alternative to landlines are VoIP (voice over internet protocol) services that can be used off of your computer and many smart phones.  With these types of services, you are able to make local, long distance and international calling for a lower cost.  In addition, these types of services offer everything a landline has such as call waiting, voicemail, etc. and additional features such as simultaneous ringing and voicemail delivered via your email.
  3. Telecommute.  With the technology available these days, it’s easier than ever to work from home.  Whether you work from home full-time, once a week or a couple times a month, it can save quite a bit of money on travel costs as well as in-office expenses.  While telecommuting isn’t ideal for every office, it is definitely something to consider if your job is somewhat flexible.  Because telecommuting has so many advantages, employees who choose to work from home may accept a lower salary, which in-turn saves your company money.
  4. Hire a virtual answering service.  When it comes to providing the best in customer service, ever business knows it’s no place to cut corners.  By hiring a virtual answering service, you’ll be able to provide customers with the support they need without having to pay an employee to be on-call at all time.  Virtual answering services can be activated after business hours and on weekends and holidays to ensure that your customers are always able to reach someone in the event that they need assistance.
  5. Cut travel costs.  Another great way to reduce business costs is to travel smarter.  Eliminate any unnecessary business trips and when it comes to booking airline tickets and hotels, be sure to purchase early and shop around so as to get the best deal. Other ways to save money when it comes to travel include, signing up for frequent flyer miles and using them, utilizing credit cards that offer reward points in air miles or even cash back, and taking advantage of modern technology that allows you to compare pricing in order to get the most bang for your buck.

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