Tuesday, September 10, 2013

Money Saving Tips for Your Business

As a business, one of your missions needs to be looking for ways to save money. Even when business is going well, you can always improve by cutting costs. This will help make your bottom line look even more attractive than it is now. Below are five money saving tips for you to look through and see if, perhaps, you’re missing out on a trick or two.

Do Your Business Online


How much money do you waste travelling to meetings? Travelling only costs money and eats into your valuable time. Conference calls have dramatically improved over the years, and there are plenty of ways you can hold a face-to-face meeting with anyone now, regardless of their location. You can use Google Hangouts, Skype, MSM, or one of many other conference call programs that are easy to download and install onto your computers. These days, you can even hold conference calls on your smartphone, so sometimes you don’t even need to travel to the office!

Discover the Benefits of Open Source


Many business owners feel that open source software is limited and not as reliable as paid software programs are. Amazingly, though, many of the open source software programs are actually even more effective. Plus, they have plenty of experts working on the programming to ensure that any potential bugs are fixed quickly. Some of the popular open source products you should consider using include:

  • WordPress
  • Joomla
  • MYSQL 
  • Open Office
  • ProjectLibre
  • Impress.js

By using open source software, you can reduce your spending on expensive software programs and licenses. The developer communities offer excellent support and advice, and it’s even possible to customise the software so that it meets your own requirements.

Save Money on Your Marketing


Marketing can eat up a large amount of your budget, but there are low-cost options out there. Some of the more affordable ways of getting your business out there into the big, wide world include using social media marketing, word of mouth, reviews, and blog content and articles. You can also call local newspapers and negotiate deals for advertising space. Try to come up with clever ways of getting noticed that don't involve a huge budget. If you can create a cheap viral video, for example, you’ll be a winner!

Let Workers Work from Home


When employees work from home, your expenses are immediately reduced. You save money on energy, tea, coffee, and water, all sorts of savings that add up. If you offer flexible working conditions to your employees, they will be motivated and take pride in their work, benefiting you with greater productivity. However, you must always make sure to keep your technology up to date so that your employees are able to work efficiently at all times. 

Keep an Eye on Your Spending


Using accountants in London to keep an eye on your spending is very helpful. You will be able to use up-to-date accounts to spot high-cost areas and make changes that will benefit you immediately. For more information concerning hiring an affordable accountant, take a look at a website like gsmaccountants.co.uk and discover exactly how an accountant can be used to help your business save money.

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