Quirky Money-Saving Tips For Your Business

Posted on Jul 14 2016 - 3:56pm by Editorial Staff

All businesses wish they could save more money. But with all their commitments to staff and suppliers, this can be difficult. However, there are still ways, despite appearances, to make this happen. Here are some quirky tips to help your business get on its way towards more robust financial health.

Go Green

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Image Source – pixabay.com

Going green used to be seen as something that was a burden for businesses. It was something that the Apples and the Teslas of the world did because they had the money to do it. It wasn’t something that could be done by regular companies just trying to get by.

How things change. Now going green offers many cost advantages for your business. Solar panel prices have come down substantially over the last few years. And now, for many businesses, they’re a cheaper way to get electricity than from the grid. The price of eco-packaging has also tumbled. And this means that you can now get a marketing boost for your company without having to pay a significant premium.

Bartering

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Image Source – pixabay.com

When we put a price on things, it makes it harder to get a killer deal. But when businesses barter, they don’t put a price on their services. And so it’s much easier for you to get an advantageous deal for your company. Find ways to trade services for services with other enterprises on a bartering basis. It could prove to be highly lucrative indeed.

Switch Machinery Over To Red Diesel

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Image Source – commons.wikimedia.org

Recently, the law was changed to allow businesses to use red diesel to fuel their machinery. The red diesel price is lower than white diesel because it is taxed at a lower rate. So this means that there’s a big incentive for businesses to start using it in their off-road vehicles, like tippers and mowers. Just remember, red diesel still can’t be used on the road, but it can shave a significant amount off of your costs.

Start Using Micro Contracts

As a small business owner, you’ve toyed with the idea of hiring new staff for jobs that need to be done around your business. But when you really think about it, you come to the conclusion that there isn’t enough work to justify hiring a new person. What you need ideally is half a person. Fortunately, with micro contracts, you can get half an employee worth of work. Sites like Elance are perfect for finding a person to do the job.

Join A Trade Association

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Image Source – en.wikipedia.org

Trade associations don’t save you money in and of themselves. But they help to put you in contact with people who have the knowledge to help you save money in your industry. Often, members of trade associations can set you up with people and help you get discounts from your suppliers. You can also find people who can help your business make great financial decisions.

Use Short Term Leases

If you know you’re not going to need a bigger office for a year or so, don’t enter the contract now. Stick where you are for the time being and only move into new premises when you absolutely have to.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.