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Tips to Help Small Businesses Save Money |
Written by Melanie C
Monday, 23 June 2008
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Every business needs to work on saving money, but for the small business it is especially necessary as they have less to waste than big business. One of the best ways to save money is to ask the staff to present a business case if they see wastage of resources or money. They are more likely to see down into the nuts and bolts of the business than management personnel are. Ask for an alternate plan and estimate of costs saved so that you can decide whether it is worth pursuing. Offering an incentive bonus of 10%-20% of the savings will lead to greater productivity and integrity from staff. Where possible, pool with other small businesses to take advantage of the cheaper costs of bulk buying. Computer ink and paper stock are just two items that all businesses need. Checking out your merchant banking fees could save money. You may be able to switch to a cheaper alternative or your present facility may agree to match their competition's rates. It's worth asking them, if you don't really want to change. Explore the Internet for free software. It's quite amazing what you can pick up for no or low cost. The same goes for used hardware that can often be purchased for a song when someone else upgrades. Being clear about your payment terms is another way to save. Many a small business has gone to the wall simply because their clients spent the money they owed in the pub, rather than using it to pay their bills. Article Source: http://www.ArticleBlast.com |
About The Author:
Find information on opening an online business account and wealth-building opportunities such as managed fund from sites such as RaboPlus (http://www.raboplus.com.au).
Find information on opening an online business account and wealth-building opportunities such as managed fund from sites such as RaboPlus (http://www.raboplus.com.au).
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