20 Ways to Save on Expenses for Business Owners

  1. Use natural sunlight to light the office. Work in an area of the office that gets great light and save on utilities.
  2. Print two-sided, or four to a page. Printing two-sided doesn’t help on ink costs, but saves on paper costs. If it is necessary to print drafts, print two pages per side and look at four for the price two before doing a final print. lightbulb
  3.  Streamline staffing levels to balance pay and overtime. Ideally, you want just enough employees to manage the work you have on any given day. Cross train individuals to soak up slack in a different department, or outsource simple tasks during peak times so you can use your human resources productively.
  4. Unplug or set timers. Research which appliances, equipment, and utilities that can be set on a timer or unplugged during downtime.
  5. Offer internships. Hire college interns and students in exchange for college credit or job experience. Many colleges offer programs to area business owners. These programs offer practical experience to students.
  6. Go for Cloud technology. Today, many industries provide various services using Cloud-based technology. From accounting to legal case management, businesses no longer have high costs associated with hardware and software requirements. They simply log into web-based services for a fraction of the cost.
  7. Search for inexpensive web hosting. If you’ve had your website for a while, you may want to check into reducing your Internet and website service costs. Many companies have had to reduce prices due to the amount of competition in the marketplace.
  8. Find an inexpensive business phone service. Look for alternative telephone options. If your business requires a PBX system, try Virtual PBX or similar options. No hardware of software required, so the costs are much less than regular PBX systems.
  9. Switch from a merchant account to an online payment. Still using the credit card machine to swipe customer credit cards. Look into Internet-based payment solutions. You may be able to save lots of money in monthly fees, and per transaction costs.
  10. Hire a freelancer. No need for an employee unless you have an ongoing, long-term need.
  11. Reduce advertising costs. Market your business online is much cheaper today. Use social media rather than a local billboard to connect with potential customers.
  12. Explore alternative business locations. Evaluate whether you really need the space you are paying for. Entertain the idea of a smaller building, or different warehouse setup to reduce the space you need. Changing locations or using your space more efficiently can result in serious savings.
  13. Keep the windows open.Cut the cost of air conditioning and heating during seasons that allow you to have the windows open.
  14. Lighten up. Paint walls a lighter shade and reduce the amount of light you need on all day.
  15. Control the unnecessary expenses. Determine whether an expense is a need or a want.
  16. Do the business online.Cut undo expenses by video conferencing, online billing, or Internet-based ordering.
  17. Share a printer among departments. Cut down on multiple printers, ink, and paper supply costs by streamlining with one printer.
  18. Hire part-time employees. Offer part-time positions. You cut costs on employee benefits.
  19. Go Paperless. This may be better to do progressively. Reduce paper waste right away, then look at areas where processes can be changed to reduce paper usage by 50%. Then, strategize to find other ways to minimize paper usage. Some businesses simply cannot go without paper, but avoiding waste and reducing usage can amount to a great savings!
  20. Stop using snail mail. Postage costs have skyrocketed in recent years. Communicating through e-mail eliminates most postage needs. Set up auto-pay on bills and there is virtually no need to send anything via old-fashioned post.

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