As we embark on a new year, many small businesses are continually seeking new ways to decrease costs without having to take drastic measures. I’ve spoken to several small business owners who are seeking guidance on different ways to cut costs. Listed below are a few helpful strategies that will assist with cost cutting for your small business:
- Purchase items in bulk: If your small business uses large quantities of a product, then it makes sense to join a warehouse club such as Costco or Sam’s Club. These warehouse clubs are also great for large families. I personally have a Sam’s Club Membership. Not only do I make purchases at Sam’s Club, I also use the Sam’s Club gas where I also save money on gasoline. The warehouse clubs also offer great discounts on insurance and even emergency road side assistance.
- Comparison shop: Websites such as www.pricegrabber.com are a great tool for comparison shopping. These sites are great because you can compare an item found in multiple stores even before you go out to the actual store. You’ll save money and time.
- Look for multiple discounts: Several companies provide discounts to customers through bundle packages. For example, a bundle package might include phone and internet service. These packages save considerable amounts of money versus paying for each service separately.
- Cut utility bills: Some of the ways to cut utility bills are using ceiling fans or compact fluorescent light bulbs. There are even tax incentives for being energy efficient. Taxpayers can quality for tax incentives for adding insulation or roofing materials.
- Change phone services: Many companies are switching to a new technology called Voice over Internet Protocol (VoIP). This type of service allows you to make calls using your computer instead of a landline. One of the major providers is Net2Phone. For more information visit the Net2Phone website at www.net2phone.com.