Save Money as a Small Business

Businesses, especially small ones, need to run tight ships – cutting back on your overheads will see undoubtedly see nicer balance sheets. While there are some things that you shouldn’t scrimp on, there are plenty of ways in which you can save money each month in an aim to see your business prosper even more.

There are some major investments that need to be considered if you want to be as successful as possible though, and internet security is one of them. In an age where everything seems to be online, the more secure you are in your online operations, the better.

There are plenty of online security products available from Symantec that will be able to cater to your needs, regardless of the type of business you run. Whether you need some reliable anti-virus software or your business has an ecommerce aspect and you need to take a look at the SSL certificates available, these giants can help. That way, you will be able to protect yourself as much as possible against malicious threats, which, according to a recent infographic, are increasingly targeting small businesses, just like yours. Part 1 and part 2 of the infographic can be found online for your perusal, should you wish to find out more.

Another major investment would be insurance. While you probably won’t need all types of business-related insurance, chances are you’ll need something. It may be tempting to forego the outlay, but it’s better to be safe than sorry, especially when you may not have the disposable income to support yourself through a prosecution case.

Here are some ways in which you can save money though:

  • Go paperless – It may not seem like you spend a lot on printing paper, but when you factor in every cost associated with paper correspondence, you could be looking at a surprising sum. From the paper, the printer ink and the envelopes to the incurred postage costs, all of this can be avoided (or at least, reduced) if you chose to go paperless and do most of your liaising online.
  • Use online networking – Reduce your phone bills by using Skype and Google Talk as much as possible.
  • Reassess your insurance – As said earlier, make sure that you are only paying for insurance you need. Don’t skimp on the essentials, though, as a compensation pay out could break the bank.
  • Buy in bulk – Anything that you buy regularly, buy in bulk. Purchasing in larger quantities can save you a fortune compared with buying things as and when you need them. From paper and stationery to teabags, see how much you’d save. On the flipside, make sure that you’re not spending on non-essential items. Do you really need that many post it notes?
  • End the lease – This can be particularly useful for a small start-up. You may think that you need an office to work from but if you’re able to do what you do from home, you’ll save a fortune. You can also claim a small amount of tax back for the cost of homeworking.
  • Hire freelancers – If your business is on the up, consider freelancers rather than hiring full time staff straight away. That way, you’ll only be paying them for the work they do, rather than an annual salary plus associated benefits.

Reduce your overheads and you’ll have fewer expenses to worry about each month, which means more profit and a better chance of success for your business.