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5 Simple Yet Effective Ways Small Businesses Can Save Money

It’s true that you can start a business with virtually no money. The popularity of online shopping is proof that you or anyone can hustle and open a shop online. With start-up capital therefore not a problem at the onset, what can you look forward to as a small business owner?

Costs can pile up in your small company as you
grow, hire more people, invest in office equipment, and quite possibly, move to
a bigger location. These ordinary, albeit necessary, expenses can hit your bank
accounts. What’s the best way to deal with office overhead costs and to keep
them under control?

Take a look at these practical, cost-saving
mechanisms you can implement in the workplace.

1. Buy Used PCs

Used computers are priced considerably lower
than their new counterparts. You can also look into refurbished PCs that have
been restored to working condition. It’s even more practical to buy secondhand
computers if work tasks don’t need top-notch specs or involve intensive
programs.

Go over these three points when buying refurbished
PCs:

  1. Tally the costs of accessories needed for each computer to know if the total cost makes better sense than purchasing a new set.
  2. Remove all viruses, tracking programs, and all other threats from each PC
  3. Prepare money for repairs that, to be fair, can happen even to brand-new computers.

2.  Download Paid Programs for Free

Software applications and tools create an efficient and productive workplace. You can scrimp on the cost of buying computer programs by downloading them from websites for free. However, check that it is safe and legal for you to use such sites.

If you are having doubts about buying an app
or program, you can use its free trial version, available in the software
developer’s official website. You can delay spending on such software or find
out that you don’t have much use of it in your normal operations.

3. Utilize Energy-Efficient Power Strips

Power strips or extension blocks multiply the
power of your main outlets. Not all multi-outlet strips are created equal; some
of them are devised as smart or energy saving to help reduce electricity costs.

Energy-efficient power strips mainly address phantom load, which occurs when appliances
consume energy while in standby mode and results in energy waste. A smart power
strip can detect an idle gadget and cut off the power supply to that appliance.
Other plugged appliances can continue to draw power from the strip.

4. Adopt Sustainable Energy Practices

Ingrain a culture of awareness and
sustainability in the office. In line with point no. 3, implement
easy-to-carry-out practices on the use of energy. You can start with switching
off lights, unplugging the coffee maker or microwave, and turning off
computers. Take advantage of natural light, and schedule regular maintenance
for your air-conditioning unit.

Going green has a positive impact on your
company’s utility bills and the community as a whole as you look into a
comprehensive energy-reduction plan.

5. Use Social Media and Referral for Job Postings

Online job boards cast a wide net when looking
for talents to fill a position in the company. However, memberships in such
sites can rack up to hundreds of dollars a month, according to Fit Small
Business. Against this backdrop, use your social media presence to generate
interest for the company and scout job seekers.

You can also design a robust referral program
to encourage employees to recommend the most qualified person they know for the
position. Referrals can spare the company from combing through countless
résumés and scheduling prospects for an interview. Plus, you have the
employee’s word to vouch for the candidate’s abilities.

Invest in the Future

Understandably, you don’t have all the
resources to focus on things that are unseen, like the mental health of your
workers. As early as now, however, you need to start looking into programs for
employees who may be showing signs of stress and drug use that can affect their
efficiency and productivity.

Drug testing can be one way to see how your
employees are doing. If they find out about a drug test, they’ll be sure to do
their due diligence. That means, they will stop taking in the substance and try
detoxification methods. Hair testing is particularly potent because it
can detect traces of drugs in the last 90 days.

The recommendations in this article entail up-front costs, although generally not higher than those done conventionally (e.g., buying everything new).

About The Author

vipul

Vipul is a professional blogger and online advertiser based out of Bengaluru, India. Always in a quest for new ways to make money, Vipul detail out all possible opportunities that can help anyone to earn passive income online. You can connect with on Twitter, Linkedin & Facebook




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