Small Business : Cost Reduction Tips

Wednesday, July 8, 2009 23:19
Posted in category Business

Cost control is one of the keys to running a successful small business or home office. Even the smallest expenses can quickly add and cut into profits, leaving you with a business that won’t  move forward.

Many small business owners know where their money comes from, but are not so clear on where to go. This can have a significant impact on their businesses cash flow.

It is important to periodically review their expenses – every quarter if possible – so you can accurately manage the cost of its output and find ways to save.

Demos Pameros, president of U.S. at Staples Inc. stores, offers the following suggestions for saving money on your business.

-  Buy last year’s model. Furniture, computers, PDAs – there is always something new. This also means that there is something old. If you wait until the end of the year and sales throughout the year, you can save on your office needs.

- Buy in bulk and buy ahead. Through the purchase of common use in large quantities, you can save a lot. Replenish their supplies before you run out. Thinking about the future and therefore the purchase ahead, gives you the opportunity to compare and take advantage of sales.

- Buy products that save money. Consider the quality alternative to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent savings per cartridge.

- Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, postage and other expenses. Similarly, some credit cards such as American Express Corporate Card for Small Business, you can also get discounts.

- Save on mail costs. Mailing costs for your business is growing rapidly. To save money, use postcards or consolidate shipping. You can also buy or lease a postage meter or mailing a scale to remove more.

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One Response to “Small Business : Cost Reduction Tips”

  1. canary says:

    July 11th, 2009 at 6:52 am

    Nice posting. good information.

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