December 12, 2014
Save your Small Business Money in 2015
With the new year right around the corner, the time has come to look towards the future. As a small business owner, this means making changes that will help your company reach new heights.
While there is nothing wrong with spending money, especially if you are getting something in return, you don’t want to go overboard to the point of being wasteful.
As we move into 2015, there are small steps you can take to save your business big money. A few adjustments here and there could save you thousands. These three ideas will get you in the right frame of mind:
- Cut back on the use of office supplies. There are supplies you need, as well as those that you can probably do without.
Here is what you should do: review how much you spent on office supplies in 2014, taking a close look at the exact items you purchased. From there, make a list of what you will need next year as well as what you may be able to do without.
For example, a growing number of companies are cutting back on paper use. Not only will this save you money, but it will do some good for the environment as well.
- Only travel when necessary. There will be times when you have no choice but to meet with clients and prospects in person. Sometimes this means nothing more than getting in your car and driving across town. Other times, however, you may need to jump on a plane and fly across the country.
There are ways to save money on the cost of travel, such as suggesting an online video conference. You may hesitate to suggest this at first, but don’t be surprised if the other party is just as excited as you. After all, they are probably looking for ways to cut costs as well.
- Hire a tax professional. If you don’t have somebody on staff to help with tax related details, such as quarterly filings and payroll, you could be wasting money and making mistakes that cost you in the long run.
Finding a tax professional is easier than most people believe. This article provides sound advice for getting started.
It doesn’t matter if you implement one of these tips or several, the end result will be more money in your company’s bank account.