How to keep your overheads low when starting a business

When starting a new business it’s important to keep costs low in order to run a profitable business. Here are some costs saving ideas you should be using:

• Reducing IT costs –

You can start saving money on IT costs by switching to a cloud service.  Since this is web based software they will always be up to date so you won’t have to keep paying out for the latest updates. You can also get rid of the expensive data storage and email servers.  Web bases software doesn’t require maintenance or complex instillation so you will save on IT support. It’s best to shop around and compare for the cheapest cloud services.

• Reducing your phone bill by switching business communications –

Switch to Google voice or Skype to dramatically reduce your phone bill. You can also email, text or tweet to reduce your bill.

• Reducing premises cost –

You can save money by moving to a smaller premises or allowing staff to work from home. Save money on electricity bills by ensuring all appliances in standby are switched off. You can also switch to low energy light bulbs to cut down on bills.

• Reducing staff overheads-

Outsource tasks such as bookkeeping. You can use a contract packing service for cheaper mail shots and stock dispatch. Also by choosing freelance workers for specific projects you can gain the expertise  you need without employing expensive permanent staff.

• Travel cost-effectively

Hold teleconferences where possible instead of travelling to meetings. On essential business trips book in advance for train and bus services and for hotel room.