All businesses want to save money where they can, but it’s not always easy to see how it’s possible to do so. Often the best idea is to look for a multitude of ways you can save a little bit of cash over time, rather than holding out hope for one big change to save you thousands immediately. Here are a few suggestions in that vein to get you started.
Before signing up for any kind of service, be sure to get at least three quotes from different companies to see what kind of deals you can get. Many businesses offer to match prices, so you might not even have to go with your second choice just because they’re cheaper. It also pays to review the services you’re using regularly to see if you could make savings by switching suppliers. Another idea is to find out whether discounts are available for making early payments, or paying in a specific way.
Have a Water Audit
Business water bills are an expense that’s often overlooked, so a water audit can be a great way of figuring out if you’re being overcharged for your water supply. It can also help you to find ways that you can become more water-efficient, which is another effective method of cutting down on your spending. Unlike residential homes, you may also be able to switch your water supplier and save money that way.
Going green isn’t just good for the environment, it’s also good for your wallet! There are lots of simple steps you can take as a business to reduce your spending through becoming eco-friendly. For example by switching to double-sided printing instead of single-sided, you can save money on paper. Cleaning up your mailing list is another great way to do this, and also reduce the amount you spend on postage.
To save on electricity costs, ensure that your employees turn off all their electrical equipment at the wall socket when they leave the office. If you can engineer your workspace to get as much natural light as possible, you could also save on lighting costs as well as making it a more pleasant space to work in.
Working from home has become far more common as a result of the current COVID-19 pandemic, but it can also be a great way to save money. By having fewer workers in the office you don’t need to rent such large premises, and can also reduce the costs of lighting, heating/cooling, and other utilities. You may also find that your employees are more productive as a result.
If you need to have people in the office, features such as motion-sensitive lighting and smart thermostats can save on energy costs. You can also use virtual meeting tools in the workplace to reduce travel expenses incurred by visiting other branches or client companies unnecessarily. If you’re really feeling generous, why not give staff an extra day off a month? You’ll save money when the office is closed, and be giving your workers a great productivity incentive!