You can make your small business more efficient by analysing your overhead costs, streamlining your operations and embracing cost-saving new technologies. Here are five smart, cost-saving solutions that could save your business serious money:
Move to the cloud
Recent developments in technology offer huge potential benefits to small businesses. By using cloud-based services you no longer have to invest capital in buying servers and hardware. Instead, you can store data and access resources in the cloud, leaving you free to focus on what’s important: your business.
Pricing models for cloud computing are attractive for small business, because you only pay for the storage space and services you’re actually using.
Lose the landlines
By switching your office communications to internet-based telephony with a VoIP phone system, you can use your broadband connection and the internet to bypass traditional phone networks and dramatically cut the cost of UK and international phone calls.
Vonage, for example, offers a range of low-cost communications solutions to suit businesses from home start-ups to growing small businesses.
Go remote, be flexible
Gadgets such as laptops, smartphones and tablets, as well as communications technology, mean that your staff can work virtually anywhere, at any time. By encouraging your staff to work from home, even for part of the week, you can save money on office space and energy bills.
With a VoIP system, individual phone numbers don’t need to be installed, so you can add new numbers as and when you need them, with complete flexibility. You don’t need to buy extra capacity to cope with possible future growth and you can streamline just as quickly if you need to.
Start marketing your business online
Whether you’re setting up a new small business or you want to grow your existing business, it’s important to attract new customers, but traditional advertising and marketing is expensive. Digital marketing, blogging and social media marketing can be free, and you don’t need to be an expert or have a big budget to get your business noticed.
Find out more about how to grow your business for free with digital marketing.
Compare the market
We’re always being told to shop around for the best deal, and this applies even more to small businesses. By keeping a watchful eye on the market for the best deals on utilities, insurance, financial products and communications, you can often make significant cost savings.