Money Saving Tips for Business Owners

 

Putting up and running your own business can be expensive, to put it mildly. And in today’s economy, every small business owner is looking for ways to save money and reduce expenses. Fortunately, there are plenty of simple and easy ways to reduce costs—all it takes is a little creativity and careful discipline. Here are a few money saving tips for business owners. 

Buy Used and Refurbished Office Equipment and Furniture

When furnishing areas that don’t see a lot of client or visitor traffic in your office, such as the copy room or breakroom, it makes sense to save a bundle by purchasing used furniture and equipment instead of everything brand new. Of course, when it comes to buying refurbished office equipment, you’ll want to shop sensibly and wisely, making sure the items are fully functional and performance guaranteed. JJBender.com is a trustworthy and reputable source of used office equipment that offers a wide variety of products. 

They have been in the business for more than 38 years, and sell used printers, copiers and other office essentials which you can shop here: https://www.jjbender.com/used-printing-equipment/ . One of the things they pride themselves on is that their customers shouldn’t be able to tell the difference between a used machine and a brand new one—that is the level of quality they strive to provide. 

Go Green

Going green isn’t just a fad; some of the most environment-friendly practices have the added benefit of being budget-friendly, too. For starters, the more energy efficient your office space is, the more you’ll save on utilities. Something as simple as switching from traditional incandescent light bulbs to Energy Star -qualified CFL means they could last up to 10 times longer and would only use about one-fourth of the energy. 

Other ways to save money by going green include going paperless or at least reducing the number of documents you print and copy by opting to focus on digital communication and storage; and finding ways to reduce, reuse and recycle office supplies such as folders, clips and binders. 

Cut Hidden Expenses

One of the easiest, most overlooked ways you can lose money as a business owner is through unnecessary expenses. You might be paying for subscriptions you don’t really need , or a mobile phone plan that isn’t the most cost efficient one in the market. 

A very common mistake many small business owners make is to overspend on office supplies. A good way to avoid this is to set aside one day every month to take stock of inventory, then to buy items that need replenishing in bulk instead of per piece. Buying in bulk can save you a lot of money and get you great discounts, plus you’ll save on shipping and delivery when you make less frequent purchases. 

As you can see, all it takes is a few small changes and adjustments to save a good amount of money. It does require some careful planning and discipline on your part, but the effort you’ll have to make will be well worth it when you find yourself well within your budget and increasing savings every month.

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