4 Money Saving Tips For Business Owners

Small and medium-sized businesses are facing a bit of a tough time right now.

With the Coronavirus pandemic still raging in some areas of the world, and other areas of the world just beginning to pick up the pieces, it’s clear that saving money will be top of the list for many small businesses.

Good Money Decisions

While making money is the aim, if you’re spending more than you need to, your profit margins will begin to show.

Here are four easy tips for small and medium-sized businesses to help them save money in the coming months.

Get A Good Website With Good SEO

One of the highest costs for most small and medium-sized businesses is the cost of advertising. The very art of being able to get your brand ‘out there’ and recognized is something that is likely to eat into your budget.

It may sound counterintuitive at first, but getting a decent website with a strong focus on SEO will actually save you money in the long run.

ALT Agency, website designers in Wolverhampton, worked hard with their own website to rank top for local keywords, and it saved them a fortune on more traditional advertising like focusing on social media or running expensive PPC campaigns.

Ditch The Office Space

Are you still insisting that all of your employees come into the office every day just so that they can be ‘seen to be present’?

Get over it.

This is another BIG thing that costs businesses money, renting office spaces just so they can monitor their employee’s work.

Switch to remote working, and hire meeting areas if you actually need to meet in person. You’ll immediately cut down those high rental prices, and you’re likely to have happier employees as a result!

Walk And Talk

How much time every day do you waste in pointless meetings? How much time in these pointless meetings is wasted by pointless chatter and not on-topic rants?

Cut both of them by switching to walking meetings. While you may not consider this as a cost-saving exercise, spending less time wasting time in pointless meetings listening to pointless rants because everyone wants to get the meeting over and done with fast will mean you have more time to spend doing your actual job, which in turn will increase productivity.

That’s psychology for you!

Switch To Open Source Software

Some software is very specialist and requires specialist setups. The Adobe suite, for example, only really runs on Windows or Apple systems, but what about those employees who are just using web browsers, word processors, and spreadsheets?

A switch to open-source software could save you a lot of money on license fees when it comes to software that is not specialist.

You may choose to run all of your IT on the Windows operating system, but replace expensive licensed software with open source. Or, for staff that don’t need specialist software, a full switch to an open-source operating system like Linux with open source packages like Libre Office could see you saving a lot of money.

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