When you start a new business, keeping a tight rein on the purse strings is really important. Money’s usually tight so how you spend it can make all the difference to your survival. So finding ways to save money is something you need to get to grips with as soon as possible. Saving money is super important, but you do need to spend quite a lot of money at the start to get the business going. If your business has limited funds, it might be worth getting a business cash advance to ensure you can properly invest in your company’s future.
Here are three easy ways to save your start-up business money.
- Outsource your IT
Your IT infrastructure can be one of the biggest costs when starting a business. Having someone onsite to look after it can be expensive and, most of the time, you won’t need them. But it’s essential you have IT support as your business may not be able to survive if something goes wrong so we’d recommend this action above all others. Ensuring your business has a reliable internet service is a key to being successful. Many businesses, and it is recommended, use VPN services to both protect their information and make it easy to share documents between employees. There are a lot of VPN services to choose from, so reading reviews such as the HideMyAss VPN Review can really hep when choosing what service to use.
Outsourcing your IT means you’ll reduce the costs drastically but still have all the advantages of a dedicated IT department. Companies like London Cloud offer you a fully outsourced service that lets you decide the level of support you want with the freedom to work anywhere on any device. It’s perfect for start-ups because the cloud-based system means your data’s backed up and is safe and secure, and you can just pick up the phone if anything goes wrong.
- Work from home
Having a home office saves on business premises, which can be costly. When you first start out you don’t necessarily need a separate office as it’ll probably just be you in the business. Instead find a suitable place to work from home. If you need somewhere for meetings, use hotels, coffee shops or hire somewhere by the hour. Working from home also reduces your travel expenses as well as the associated costs of rented business premises. If you have to take on an office or workspace, save cash by buying used furniture or equipment
- Use free marketing wherever possible
There’s loads of free marketing tools available today that are really easy to use. Social media, for example, is a fantastic way of promoting your business. Using Twitter, Facebook, Google+, LinkedIn and other content-sharing platforms can bring you more exposure and improved sales. And while they may be free, they do take time and effort to do properly so don’t expect to reap the rewards instantly. With the right strategy and research, social media can become an essential part of your business’s marketing
Introducing these changes to your new start-up business can have a big impact on your finances. They’re not difficult to implement and will be worth it at this early stage so you don’t waste precious pennies on things you don’t need. These suggestions are just the tip of the iceberg as here are loads of ways you can save money when starting up a business, such as doing as much as you can yourself and shopping around for the best deals and prices when buying business essentials like stationery, banking and insurance.