The Best Ways to Keep Your Business Costs Down

The bottom line for any successful business is profitability and reducing your overheads could have a positive effect on the money that you make. Outgoing costs such as energy bills, delivery costs and utilising technology can be reduced, so that you can reap more of the benefits of your business’s success.

Here are five ways to keep your business costs down and help you get the most out of your business and its sales.

Save Energy

Encouraging your staff to shut down their computers and laptops each night is an easy way for your business to save money. It seems obvious, but it’s something that’s overlooked by many business owners.

Other ways to encourage energy efficiency in the office include:

  • Switching the lights off at the end of the working day
  • Set the controls on your heating system so that it’s only on during office hours
  • Replace any old equipment with Energy Star Rated products

Go Paperless

Printer costs, including paper, ink, toner and maintenance, is an unnecessary expense for businesses in the digital age. Going paperless could save your business a lot of time and money.

We recommend using the cloud to save your files and documents. This means that they be easily shared between colleagues and accessed by those who are between offices or working from home. It will also improve efficiency and save you space in the office, with no bulky printers or large filing cabinets to think about.

Use Comparison Websites

Take advantage of how easy it is to find great deals on the internet. Using comparison websites can help your business save money. For example, you can find the best deals on deliveries if you have an ecommerce business – couriers such as My Parcel Delivery have an online calculator, which is perfect for getting quotes to send your large and heavy parcels. Use this to find a suitable courier service for your business and you could make potential savings.

Use Free Advertising

Cut down on the expensive forms of traditional advertising that you might use. Flyers, radio advertising and billboards are all costly ways to promote your business. Instead, look at using some digital marketing strategies, including:

  • Utilising your social media channels
  • Send promotions to your existing customers through email
  • Create valuable content in a blog

Update Your Phone Systems

Take your phone systems online – it’s a cheaper option to use systems such as Skype’s Business Services, which allow you to video call and hold phone conferences all over the world with just a working internet connection.

Follow our five tips to keep your business costs down. By streamlining your business in these ways, you may be able to enjoy a more efficient and more profitable business.

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Alison

Finance Blogger at Payday Jester
I have a passion for all things finance and business so if I can help you in anyway then please get in touch and if you have any comments or feedback please leave a message.

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