Ways to help your small business save money

Financing your small business is a crucial part to success, but it can be difficult for owners to save money. Here are some tips.

Starting up a small business is an exciting time but it can also be rather expensive. Everything from set up costs, paying any employees, and getting things off the ground are all rather costly, especially before you have the big bucks rolling in. But there are ways you can help yourself to save money and lower costs whilst still enjoying a great outcome. Because we are nice like that we have decided to give you a couple of tips to help you save the pennies whilst you are in the start-up stage.

VOIP systems

The chances are that when you first start out, you are going to be making a whole lotta calls. New clients, suppliers, current customers, service providers- you name it, you will be calling them. Instead of racking up massive mobile or landline bills, why don’t you consider a VOIP service? Meaning Voice Over IP, this system runs your phone calls over the internet rather than a traditional telephone line. They are often much cheaper than traditional calling methods and providers offer a superior service to your normal phone company. Don’t just take our word for it, check out some small business VOIP reviews here for the full lowdown.

Doing your own marketing

When you are just starting out, there is no need to spend most of your budget on fancy marketing. If you are creative enough to set up on your own, you are creative enough to come up with the basics of your own image. Start with a logo, a Facebook page, a basic yet well designed website, and some business cards and you are good to go. Keep your online platforms up to date and informative and make an effort to engage with your clients or prospective clients. Sending a Facebook message, replying to an email, or sharing your latest company news online doesn’t cost you a penny but could bag you a new client.

With Small Business Pro you can save over £30 a month. Small Business Pro will help with the heavy lifting of managing customers, taking payments, insurance, finance and HR, plus you’ll get a host of personal wellbeing benefits.

You can find out more here.

Getting an accountant

Now I know this is an expense but trust me, it will work out for the best in the long run. Unless you have experience with taxes and accounts, taking care of your own could become a very time-consuming process which will ultimately cost you money.

Also, if you aren’t 100 per cent sure what you are doing, you could end up getting yourself into hot water and ending up with a hefty fine, or worse. Hiring an accountant that is flexible and works remotely is a perfect solution to your needs- it is lower cost than employing someone but delivers the same results.

These are just three of the ways that you can save money when you are embarking on your business adventure, of course there are many other things you can do, but this is good to get you going!

Further reading on saving money

Owen Gough, SmallBusiness UK

Owen Gough

Owen was a reporter for Bonhill Group plc writing across the Smallbusiness.co.uk and Growthbusiness.co.uk titles before moving on to be a Digital Technology reporter for the Express.co.uk.

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