7 Tips to Cut Spending in Your Business

by on May 30, 2010

Thinking of some cost cutting this economic year or can’t bear the overheads of your office, well this is a very common concern these days amongst many employers. People are trying different methods to control the budget of there offices due to the recession in t he market. So, here we are with some useful tips on budgetising the monthly expenses of your office with just few adjustments here and there:

  1. Become environment Friendly – Try and avoid things or materials that harm the environment around you try and adapt as many natural resources as you can for e.g. get solar cells to produce electricity in your office, they will not only save money on electricity but will be used for many other purposes too.
  2. Don’t go for fancy office Furniture – You can save a lot of money when it comes to the decoration of your office. Always go for the cheap and the best stuff instead of fancy and blinging furniture, take my words it will make you save loads of cash.
  3. Promote Car Pooling – Being the head in the office should teach as well follow some tips in order to save and conserve energy. So always motivate your employees towards fuel saving techniques and promote car pooling amongst fellow workers. This will help you cut down your gas bills.
  4. Get yourself fully insured – If you think you are saving money by not getting an insurance cover then you are completely wrong. So always get the best and the cheapest insurance cover for your business which will always be there to cover your losses.
  5. Control the marketing cost – This is one sector in which you can have the maximum cost cutting. One can easily save a lot of bucks by doing the marketing job themselves instead of hiring any marketing or event management companies.
  6. Go for barter deals – This is a very old yet effective method of doing business. You can exchange countless number of goods and services amongst other people in the market like it used to be in olden times which save a lot of liquid cash with you.
  7. Always try and Bargain – People whom you work regularly with can be very helpful at times of cost cutting. For e.g. you can ask for cost saving techniques by your lawyer, Insurance agent or accountant. They can guide you very well on cutting down your premiums or reduce billable hours. And you can also barter your services instead of there direct payments by keeping in mind your rapport with them.

These were the few easy tips which any company can effectively use in order to control the budget in the office.

{ 4 comments… read them below or add one }

emmajames May 31, 2010 at 12:06 am

nice effort i like it very much

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scarlett May 31, 2010 at 12:07 am

very informative i really like it, thanks

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Sarah Hill September 15, 2011 at 2:44 pm

One idea we had last year was to try out fleet fuel cards. This saved us a lot of money, and is worth looking into… http://www.fleetcardsusa.com/

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Julia January 28, 2012 at 4:42 pm

Thanks for the good ideas. I think a lot of people would be opening to bartering services in this economy.
Julia recently posted..Mid-Priced Ergonomic Office Chairs – You Don’t Have to Spend a Fortune to Get a Great ChairMy Profile

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