5 Ways to Save Money as a Small Business

Posted By Joe Lavoie on Sep 5, 2015 | 0 comments


Looking for ways to save money within a small business?

With constantly rising costs it is ever more important for small business owners to find ways of making their money stretch further.

Here are 5 ways that your business can quickly and easily save money overnight!

 

  1. Use Micro Job/Freelance Sites

Freelance or micro-job sites act as marketplaces for buying and selling small, one off services.   Instead of paying to hire someone or training in-house; micro-job sites connect your business with skilled professionals in a matter of minutes, and they don’t come with a high price tag either!

Sites like Fiverr allow individuals to sell “micro jobs” for $5, $10, $15, at a time.

Services range from graphic design to voice overs, advertising, business reports, press release submission & more..

Sometimes it comes down to trial & error, granted you’re not paying much so you can’t always expect the highest quality.  Despite this there are plenty of really skilled people, since they work from home they can afford to sell their services that bit cheaper.

If you need a particular skill on a one-off or part time basis, hiring a freelancer can be a great way to save money, without compromising on quality.  No need to pay any expensive hiring costs, training, holiday or sick leave.

Alternative sites to consider: Elance, Freelancer

 

 

 

  1. Use FREE Software

Some of the most popular & useful software tools won’t cost you a penny.  If there is a certain piece of software your business needs, you could save money by looking for a free alternative.

If it does the same job & saves you cash, what’s there to lose?

 Here are a few examples:

  • GIMP – A popular free alternative to Photoshop; it has a lot of the same features as the flagship Adobe product, yet costs nothing at all.
  • Onenote – Microsoft’s free note manager for all devices.
  • Google Docs – Almost the same as Microsoft Office but without the cost – Take advantage of automatic backups & collaborative documents.

If you can’t get what you need for FREE there might be a trial version.  Sometimes you might only need it for a few weeks, in which case you didn’t need to buy the full version!  In other cases you may it doesn’t quite suit your needs, if this happens then at least it hasn’t cost you anything.

Most software & productivity tool providers offer a free trial of their product; if it’s not advertised why not ask for a trial?  Most businesses won’t miss this opportunity…

 

  1. Be More Productive

Time is money, find ways to do things more efficiently and free up time which will ultimately save you money.

A few productivity tools & tips to save time & money

  • Hootsuite – Save time managing & posting to all of your social media profiles.
  • Rescue Time – Track what programs & websites you spend most time on, rescue time will even show you which hours & days are least productive.
  • Sanebox – Analyzes your email inbox to filter out less important emails, spend time responding to the emails that really matter & tend to the rest later.
  • Learn Keyboard Shortcuts – There are hundreds of keyboard shortcuts for windows, office & your web browser. Learn enough of them and you could save yourself a few hours or even days over a year.  20 Essential Keyboard Shortcuts for Windows PCs

 

  1. Don’t Neglect Petty Cash

Small spends out of the petty cash fund can soon add up.  Forgetting to file these as expenses can mean you miss out on tax deductions at the end of the year.  Don’t neglect the little expenses and you will thank yourself when you see your tax bill that bit smaller.

 

  1. But used/leased equipment

If you’re looking for ways to save money in your small business, buying used can give you the same equipment you need for more than half the cost.

Services like Aarons Rents provide lease-to-own options for furniture, desktops, laptops & other appliances.   No need to pay on credit either..

You can also look in your local newspaper classified section for a range of useful equipment.

There you have it, 5 easy ways that your small business can save money.  What are your money saving tips for small businesses?