Ways Your Business Can Save Money

Reprinted
from http://www.SmallBusinessNewz.com
|  By Abby Johnson, Staff Writer

Every business likes to save money,
but when it comes to what
should be cut to save the money; many businesses are at a loss. So, before you
make the difficult move to cut budgets and maybe even staff, think about ways
you can cut your office expenses.

As pointed out in this video,
you would be surprised at how much money can be saved just from your office
alone. Business consulting expert
Ken Gaebler of Gaebler
Ventures
said that office expenses can amount up to as much as 5 percent of
total revenues for small businesses.

He went on to say, "Every
dollar you save on office expenses is a dollar that can be used to grow the
business."

In order to cut your office costs, you should consider operating virtually
as much as possible. The Internet provides numerous ways to communicate, which
makes the idea of running a business virtually feasible.

Secondly, try
re-negotiating your lease
. Since office vacancies are currently
on the rise, landlords are willing to be flexible to keep their tenants and
keep them happy.

Thirdly, you might want to think about sharing
your office space
with another business. This could also be an
opportunity to increase your sales by working closely with a complimentary
business.

 

The
fourth way you could reduce costs is by utilizing
economic development zones
. Some communities have these areas
which offer tax deductions along with other perks. If your town does not have
these zones, contact your city officials.

Lastly, you could try finding
short-term rentals
. The advantage of short-term rental
properties is that they eliminate being locked into a long-term contract. If
you have a week-to-week or month-to-month agreement, you wouldn't have to worry
about your contract if you needed to take a drastic measure, such as
downsizing.

You can also cut costs by utilizing used furniture and using energy efficient
light bulbs. In addition, businesses can save on printing, ink cartridge,
postage, and telephone expenses by enforcing electronic communication and
storage.