Whether you’re looking at setting up a start-up in 2020 or you already have an established business it has never been more important to save money for unknown expenditure and to see you through economic uncertainty. If you’re just starting out though it can be difficult to know where to save money and when to buy assets.
Small Business Money Saving Ideas
The first place to start is creating a cost-saving plan. Planning the financial expenditure you are aware of for the entire year and sticking to it is a good way to understand where your money goes and where you can make cutbacks to save money. Most small businesses begin at home; so if you are just starting out, could you save money on renting office space by converting a room in your home?
Comparing the market for better deals on your utilities is also a benefit. You could even track your energy usage with a smart meter to look after the pennies.
Small Costs Build Up
Buying a notebook and pens is hardly going to break the bank on the day you make the purchase, but if you add it to the other minor expenses throughout the year such as milk, coffee, tea, staples, postage, printer paper, printer ink and so on, eventually your list of minor expenses can total hundreds and thousands of pounds.
We’re not suggesting you banish tea and coffee from your home or office but consider bulk buying months in advance to save money or being more considerate about the wastage.
Office Money Savers
Despite being in the 21st
century with incredible amounts of technology at our fingertips, businesses still rely on printing and photocopying facilities. It might not be every day, and you may have made the transfer to paperless invoicing and document storage, but there may still be a day when you are in desperate need for a reliable printer.
Unfortunately, most small businesses cannot justify the outright purchase of the latest printing technology, but why not consider renting or leasing?
At Equipment Rentals, we offer short term rentals for businesses just like yours. Why not check out our latest photocopying machines here
. Or you can learn the difference between renting and buying here
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