4 underrated ways to save money in your small business

By Henry Brown

There’s a reason why so many people start businesses: they’re money making machines, or at least that’s the idea. However, before you can get to that stage, you’ll need to spend plenty of cash to get things moving. And sometimes, it can feel like you’re spending too much money, especially versus what’s coming in. But it’s not as if you’re a powerless figure in this equation; there are things you can do to limit the amount of money you’re spending. Indeed, by making a few important changes, you’ll be able to save enough to really feel the difference. Below, we take a look at a few underrated ways to achieve this goal.

New working rhythms

It’s a good idea to have a permanent office for your company. It can help to solidify your branding, provides an anchor for your business, and boosts collaboration between you and your employees. But of course, running an office can be expensive. All that infrastructure can cost a pretty penny, and the sheer energy that’s required to keep things running smoothly can lead to high bills. There is a new way of working, however, that can significantly reduce these costs and boost productivity, too. Flexible working arrangements that allow employees to work from home can slash your business costs and make your employees happier, too.

Consolidate systems

There’s no shortage of excellent tech systems and software that’ll help you to maximize productivity and achieve your business goals. The problem is that, well, there are so many of them, and they all have their own costs attached. The simplest way to reduce these costs — and, crucially, without losing any productivity — is to consolidate systems. Are you paying various companies for your tech set up? Best to hand the job over to just one company. If you’ve got multiple work management systems, then find more information about consolidating them into a single source. Taking this approach won’t just save you money: it’ll also make it much easier to stay in control of everything.

What to outsource

There is an endless stream of tasks that have to be taken care of when you’re running a business, and they might be costing you more money than they should. This doesn’t just happen in the most obvious way, which is getting out your credit card and making an expense. They can cost you money because they distract you from the tasks that will make you money. If you’re spending too much time taking care of your legal documents or marketing or anything else, then look at outsourcing the work to a third party company. It’ll free up time so you can focus on the most important tasks that support productivity and profitability.

Change suppliers

Finally, take a look at your suppliers. Are you really getting the best deal? If it’s an arrangement that has been in place for years, then the answer could be no. It’s always worth seeing if there are better deals to be had, or trying to negotiate your existing deal to a better price.


Henry Brown is an online marketing executive. When he isn’t talking shop, he’s roaming the streets of London, uncovering the extra-ordinary in the ordinary.

Leave a Reply

The Self-Employment Survival Guide can help you succeed. Learn all about it here.

Self-Employment Survival Guide book cover