10 Money-Saving Tips for Business Owners

Deliveree Thailand
Sep 6, 2018 · 4 min read
10 Money-Saving Tips for Business Owners

Keeping a business going will be a struggle that is for sure. And when you are trying to keep your business afloat, money is an important factor. As a business owner, you should know how to handle money well so that your business can function better and have a chance to grow further. Knowing how to save money will be a good advantage. Here are 10 tips to help you save money for your business!

1. Cut down unnecessary employee expenses

Learn to cut down employee expenses like coffee, supplies, and free food. Now, these things may seem small and insignificant, but when you add up all of the expenses, you will realize it is affecting your budget as well. Be wary of these small expenses, too.

2. Outsource an affordable goods transport company

Instead of getting your own delivery fleet and spending too much, outsource a reliable goods transport company for your benefit. Outsourcing your delivery fleet will help you save money and reduce your employees’ tasks. Pick a goods transport company that provides excellent delivery service and low price delivery. Logistics company like Deliveree Thailand — which is capable of delivering goods at a very affordable price — will be really good for your business.

3. Be more eco-friendly

Being eco-friendly in your business or workplace will definitely save you money in return. Use less paper, use fewer paper cups by bringing your own mugs and tumblers to work, kill the lights when not in use and let the sunlight shine through windows in the morning. These things may not be much, but they are significant. Not only you are reducing energy use and waste, you will also reduce your electric bills and pantry expenses.

4. Be open to inexperienced staff

You can also try and be open about hiring inexperienced yet potential employees. Deborah Sweeney of My Corporation Business Services, Inc. uses this kind of approach. By doing this, you can save money by offering entry-level salary and train eager and smart employees that will benefit the performance of your business.

5. Cut down maintenance expenses if possible

If it is possible, cut down on maintenance expenses as well. Encourage employees to keep their own workstations neat and clean after themselves whenever they use the pantry or the toilet so that the cleaning maintenance will not have to come daily. Encourage them as well to use equipment and electricity properly so you will not encounter problems that require the help of technicians for hire.

6. Buy in bulk

Buying ingredients or materials in bulk will also help. The more quantity you buy of a certain product, the more likely you are to score a good deal and save money. Also, if you buy in bulk, not only will you be saving product cost, you will also save travel cost and/or shipping cost.

7. Be open to telecommuting

You can also encourage telecommuting among your employees. Telecommuting is working outside the office, whether that be at home or some other place like a coffee shop. By telecommuting, your office can save on energy cost, product cost, travel costs, and other office expenses. Although this may not be possible for every kind of business out there, it will truly have a positive effect when it comes to saving money.

8. Make use of a website builder

Instead of spending tons on advertising companies, you can try and do it yourself by making use of website builders. There are a lot of website builders out there that will help your current and future customers find and access your business. At the same time, you can also establish your business’s presence online by having a dedicated social media accounts.

9. Consider buying used equipment

You can also consider buying used equipment instead of a brand new one. Just make sure that they are gently used and that they still function well. By doing this, you will be paying less for a used equipment that is just as good as a new one. You can buy used printers, computers, tables, and chairs for your office.

10. Cut down office hours

Cutting down office hours or employee work time can also be an advantage. Instead of working five or six days a week, try shifting the work schedule to only four days a week. This can be possible for small or new businesses. Not only are you saving by reducing maintenance and operating costs, but you are also saving by lowering salary costs.

As business owners, you have to take care of your businesses and make sure it is doing okay. Wasting money or spending too much will not be good. Keep these tips in mind instead, so that your business can avoid budget shortages.

Deliveree Thailand

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Deliveree Thailand aims to revolutionize the local logistics industry by providing people with an affordable and user-friendly on-demand delivery application.

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