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Three Ways to Cut Costs for Your Small Business
Posted By US Small Business Administration On May 7, 2014 @ 8:00 am In Small Business Operations | 10 Comments
Even with the economy on the rise, it’s general good practice to keep a check on your business costs and see if there’s any room for improvement when it comes to savings. As the old adage goes, “a penny saved is a penny earned.” Here are a few ways you might be able to cut costs and save your small business some money in the long run.
Do you lease your store or office space and think you’ll stick around for a while?
You should consider talking to the property owner about lowering the cost by signing a longer lease. Committing to an extended time period may seem a little daunting, but if you’re comfortable with your location, renegotiating could save you a bundle.
Did you know that small businesses spend more than $60 billion a year on energy across the country? That’s a hefty chunk of change!
But with some energy-saving  techniques, you’ll likely be able to cut some costs for your business:
Do you know when your vendors offer sales and discounts throughout the year?
Plan ahead so you can take advantage them. Many office suppliers offer deals on certain products at discounted rates throughout the year. If you see these sales, make note so you can buy at that time and plan to in the future.
If there’s a certain product you tend to need, consider buying in bulk to save money. Yes, you’ll spend more up front, but you’re likely to spend less per unit if you purchase more. Depending on the total cost of your purchases, you may qualify for reduced or free shipping. Being smart about restocking your inventory can go a long way, so be strategic – not sporadic – about order supplies.
Those are just a few ways you can consider to cut costs for your business. Start saving today.
Light  Photo via Shutterstock
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URL to article: http://smallbiztrends.com/2014/05/ways-cut-costs-for-your-small-business.html
URLs in this post:
 energy-saving: http://www.energysavers.gov/your_workplace/small_businesses/index.cfm/mytopic=30008
 these tips: http://smallbiztrends.com/2011/06/4-ways-use-less-paper-business.html
 Light: http://www.shutterstock.com/pic-98881211/stock-photo-turn-off-the-light-save-energy-concept.html