Every business owner is trying to find ways in which they can save money without cutting corners, and the smaller the business in today's economy, the more they need to save. Saving money can be as simple as outsourcing work or not buying the named brand coffee for the office kitchen.
But there are places where you can save money as a frugal entrepreneur in your small business that you wouldn’t normally think off.
Sharing Ads
Perhaps your neighboring business or a fellow entrepreneur is in the same situation as you and needs to save some cash. Why not split the cost of advertising space on a billboard or when sponsoring a local event. That way your advertising costs a cut in half. Just make sure that your two companies don’t directly compete against each other, or you may be losing more business than you gain.
Recycled Printer Cartridges
Yes, these are real. You know how much the originals cost, and how many you get through in a week, let alone a year. You can buy recycled cartridges for pretty much any printer, and it will save you a lot of money.
Grouping Your Insurance
Shopping around for insurance will save you money, but there is a way of maybe getting an even better deal. A lot of insurance companies offer more than one type of insurance, like a car and home insurance. So when looking to buy business insurance see if you can get a good deal with the company who you insured your car with. Still shopping around, but it might be a better deal than you find elsewhere just because of customer loyalty.
Recycled Fuel
If you own a factory or some other branch that needs to burn fuel, look into recycled fuel options. Briquettes are made from many different materials such as charcoal and pineapple harvest waste. You can buy it in, or you can invest in your own hydraulic briquette press which means that you just have to buy the material to turn into briquettes.
Car Share
Offer to car share with members of staff. Yes, it’s not as impressive as rolling up in your company car. But it will save you, and others, money, and it is a much greener way of traveling.
Public Transport
On the same point, catching the train into work works out a lot cheaper than driving. You can also consider a bus or biking it into work.
Sell When You Update
To keep your business running to maximum effect, you will look to update your equipment as time passes. But rather than just throwing away the old stuff, look into selling it. You won’t make the same amount of money you spent in the first place, but the money you do get will make the cost of the new equipment drop immensely.
I hope you enjoyed this article about unexpected ways to save money with your small business.
Interested in more articles about cutting business costs?
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