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The Cost of Doing Business: Tips for Reducing Costs

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  • January 05, 2015

Overview:

If you are a small business owner or you’ve just started a small business, there are both start-up costs and overhead that can cause financial difficulties. Read the following blog to get a few simple tips on reducing unnecessary costs.


The Office

Office spaces in cities like Calgary are expensive, especially if you want a prime location in the downtown core. If it’s not beneficial for your business to have a downtown office, start looking for more affordable rental space elsewhere in the city. You have to conduct an honest evaluation for your office space needs and change accordingly. If you’re currently in a large office and find that you can downsize to a smaller office, it’s in your best interest to take advantage of the lower rent of a smaller office space. As your small business grows and you need a larger space, moving to a larger office will be a good problem to have.

Paper

It’s becoming a paperless world and your small business should take full advantage of this trend. You no longer need expensive printing costs and no longer have to print out thousands of pages of documents. Contracts and documents that need signatures can now be completed digitally. Storing documents, files, receipts and invoices can all be stored digitally on a hard drive or in the cloud. By eliminating costs like paper, printer maintenance and ink cartridges your small business will save money. In addition to financial benefits, paper reduction is great for the environment.

The Accountant

You have started a small business. You’re hard working. You’ve become a competitor in your industry. All these attributes are great to have, but you might not be an expert in financial documents. Professional accountants have the training and experience in finding deductions that actually save your company money.

Utilities

Back to the office! There are a few cost saving measures you can take to at your office like reducing water and electrical costs. Your office or place of business can install simple fixtures in washrooms that will have the plumbing run efficiently. Reducing electrical costs, like the ones associated with lighting can also save your small business money in the long run. When your office or facility is not operating, have an automated system that turns the lights off when the business is closed. In areas of your office or facility that don’t require the lights to be on, have motion detectors installed and that will turn the lights on when needed. Additionally invest in energy efficient lighting, which further reduces utility costs.

Bottom Line

With the ebbs and flows of the economy, your small business needs to save money wherever it can. You can’t afford to throw money away on unnecessary costs. By reducing paper costs, renting an efficient office space and hiring an accountant, your small business will save money. When it comes to saving on electrical costs, the team at Fluorescent Man Lighting can install energy saving lighting system for your company. From automated lighting systems to cost effective business lighting fixtures, Fluorescent Man Lighting can have your small business operating safely and efficiently.

For more information on energy efficient lighting systems for your business or facility contact Fluorescent Man Lighting in Calgary today on 403-863-8529.


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