How do you go about saving money in small business? Here are 10 tips from Adzunda that I hope help you out.

1. Staff
Options- when a member leaves, don’t replace straight away. You may notice the ‘gap’ closes. Look at getting staff members to do their own PA work.

2. Power
Save power, make staff aware of this! Turn off devices at night, only heat main areas, replace high energy items etc.

3. Suspend
Stationary can add quickly! By suspending buying or asking staff to gain approval spending will decrease.

4. Contractors
Employee costs (super, tax) add up. Look to use contractors instead, negotiate rates/hours that work for you & save extra money.

5. Negotiate
Negotiating costs with purchased & suppliers is important. If you don’t ask, you don’t know. Don’t just ask for lower rates, also look into different plans/options.

6. Cloud
Save money on machinery & storage, transfer your documents to the cloud.

7. Inexperienced
You don’t always need the most experienced! Hiring the inexperienced can save money on lower salaries & also get staff who are the most up to date with modern tech.

8. Cut hours
Do all staff need to work full-time hours? Lowering hours can lower large costs, put it in place as a trial & see if it works.

9. Maintenance
Cleaning, mowing & other maintenance. Does it need to be as often as you have it booked? Can these areas be cut down & employees pick up some extra tasks like emptying their own bins?

10. Expenses
Review/cut anything unnecessary, even small ones. You would be surprised where money is going. Also, try setting cost cutting challenges with staff.

Saving money in small business doesn’t have to be hard!

-Kaitlin-