Out from behind the eight ball: Top tips on how to save your small business its much-needed money
Small businesses can keep more of their money by taking advantage of a number of ways to save. For instance, try co-sponsoring an event with a complementary business in order to share the expenses as well as the networking benefits. Join a professional organization that offers discounts and other beneficial perks that will help you to grow your business. If you can’t pay off your credit card debt each month, at least make sure your card has a low interest rate and a solid rewards program. Trying any number of these can lead to surprising savings.
- Partnering with a complimentary business can provide you with opportunities to co-organize events and engage in cross-promotional marketing.
- Open-source office productivity software can get you out of some expensive recurring licensing deals.
- Once or twice a year, do a vendor audit to examine what you spend money on and if there are ways to save.
“There is strength and safety in numbers. Find and partner with companies to take advantage of bulk-buying discounts by purchasing and sharing larger orders of the same product.”