Top cost saving ideas for small businesses

Check out these top tips for saving money if you’re an owner-manager, whether it’s saving on energy or making economies on resources…

Written by

Emily Kindness

Business insurance expert

Posted

27 NOVEMBER 2019

1 min read

How to save on energy

Go green. Do you or your employees leave equipment running overnight? Switch off monitors, computers, and printers. Change your lights to energy-efficient bulbs and switch them all off at the end of the day. You’ll save money and help the environment. Win-win.

Review your utilities. When was the last time you compared energy deals to see if you could save money on your electricity or gas? You could be missing out on savings!

How to save on your resources

Consider outsourcing. Hiring full-time employees can become costly. Freelance contractors might be a better way to share the work out without having to up your overhead costs.

Look at virtual employees. Running an office gets expensive. Could you save money by having employees work remotely? Or only rent office space or meeting rooms from business network groups when you need them? You’ll save money and still have a professional environment without having to rent out the whole building.

Consider apprentices. Apprentices are a great way to bring in new talent without having to hire a full-time employee. They learn from your experienced staff, and you have an extra pair of hands around the office to help with the workload.

Barter. Are there any jobs that you could do on a contra basis, by exchanging services with a fellow supplier rather than buying them in? Looking outside the box and being willing to use your powers of persuasion could help you offset some of the costs of running your business.