Money saving tips for your business

Cutting down on staff costs

Although motivated and loyal staff are a plus for any business, employees can prove to be too expensive. An alternative is to use freelancers and independent contractors. Training an employee takes time and money, hiring an independent contractor, already an expert in the field, who will only charge you for tasks you really need done, can save a great deal of money.
Another cost-effective way to get support for administrative tasks is Cloudsourcing a qualified remote worker.

Getting a student intern can be a real boost to your business, you give a student hands-on experience assisting you with marketing, accounting or administrative work and you get time-saving help for free.

Sharing costs with other business owners

Rather than buying in bulk to save money, another option could be to get together with other businesses to share the costs of basics such as stationary so you only buy what you need and can share costs. Forming alliances with other businesses can lead to lucrative partnerships while collectively saving everyone some cash.

Communal Advertising

Marketing can get very expensive for small businesses it can cost thousands before you see any return. If you’re in good standing with local businesses you may want to consider advertising alongside them. If applicable you can share distribution channels, mailing lists, and suppliers with businesses offering complementary goods and services.

Networking

Networking at trade shows and industry events is another great way to meet potential partners and customers, without breaking the bank on costly advertising fees.
Attending business networking referral events is a good way to meet potential clients and other businesses you can collaborate with.
Co-hosting an event with a business owner whose customers will be interested in what you do.
You can also connect with your local chamber of commerce, to be part of their network of local businesses.
Other ways of raising interest in your business is to run a contest on social media or to sponsor a community fundraiser.

Cutting down on the cost of postage

Contacting potential customers by post can be the most effective marketing strategy adding a personal touch to all your communication. Mailing out invoices and receipts plus information about offers and deals is something many businesses find useful. The cost of postage can really add up, so investing in a franking machine could really prove to be an essential money saver for your business.

FP Mailing offer a wide range of franking machines to suit all businesses. Starting from low volume home franking machines dealing with around 30 cycles per minute through medium volume machines with automatic feeding, to dynamic feed, high volume machines, capable of dealing with up to 110 letters per minute. Whatever volume of post you are dealing with, they have the perfect solution for you.