Search
Close this search box.
Search
Close this search box.

Six Ways Your Small Business Can Save Money in 2023

Small Businesses

For small business owners especially, keeping a tight rein on the finances is crucial, more so now than ever, after the last difficult couple of years that have stretched many companies’ budgets to breaking point. Whether you’re at the very start of your business journey or have been established for years, here are six easy ways to save money.

Getting Started In Business

If you’ve decided that 2023 is finally going to be the year that you set up in business, then, depending on your chosen business structure, you will need to think about registering and incorporating it. 

You can save time and money using an incorporation platform that will manage all the paperwork and legalities on your behalf; find more information here on one such option. This platform gives users access to a team of professional business specialists who will be on hand to answer any questions you may have during the process – especially handy for those new to the world of business. It’s useful for established businesses, too, as it also features corporate report generating tools, perfect for companies about to expand or in the process of doing so.

Only Pay For What You Need

If you run a small business, there’s a good chance that you don’t need full-time staff – and there may be periods when you need no staff at all. You can save money in this case by employing workers on a freelance basis so that you are only paying for the exact amount of hours you need, meaning that you’re free to adjust this week by week according to your requirements.

Similarly, you may be at a stage where you don’t always need full-time access to office space. Think about renting a fully equipped office for the days and hours each week that you need only. These types of spaces usually come with a broadband connection and give you access to printers, scanners, and other essential office equipment. As a bonus, co-working spaces like this can offer great networking opportunities.

Make The Most Of Social Media

Using social media to raise your brand awareness, and drive visitors to your businesses’ website, can be a cost-effective way to market your products and services. Opening a business account on Facebook or Instagram, for example, is quick, easy, and free; enter your company’s details, link to your site, and then be sure to keep it updated with high-quality, fresh content to keep visitors engaged coming back. Once your social media page is up and running, let as many people know about it as possible, and ask your family and friends to share your posts as you get established. Use discount codes, promotions, and competitions to build up your followers and get visitors interacting with your brand.

Ask For A Discount

As a potential long-term customer, you may be surprised at just how much leverage you have when it comes to negotiating with suppliers. It’s always worth asking for a discount, whether it’s regarding purchasing a new printer for the office or signing up for a marketing contract. Don’t be shy about letting the potential vendor know that you’re a business customer and that you’re actively shopping around to see which supplier can offer you the best deal.

If you’re looking for premises to rent, ask about the possibility of a rent-free period at the start of your lease to help you get established: even three months without needing to find the rent charge could save your business hundreds and hundreds of dollars in the crucial early stages of its life.

Use Software Where Possible

If you run a small business, then you could save big bucks by using software to allow you to DIY what needs doing rather than hiring specialist staff. For example, there are a range of easy-to-use website builders available that will allow you to create a professional-looking website that includes e-Commerce if required. Similarly, you could incorporate accounting, HR, or marketing automation tools into your processes to help things run more smoothly, ensure compliance and – of course – save time and money.

Save On Bills

Utility bills could make up a significant proportion of your businesses’ outgoings. Deploy tech to help cut these costs: programmable thermostats are now on the market that can help to reduce your heating costs and save on your electricity bills with smart light bulbs.  You could also consider using movement sensing lighting in low traffic areas or incorporating light panels into your business spaces, which can cost less than a dollar a year in electricity charges. Intuitive thermostats are also an option, which can measure the temperatures of different parts of your office space or building and adjust for the ‘cold’ and ‘hot’ spots to make sure that your energy usage is as efficient as possible.

Big Savings For Your Small Business

Saving money may seem impossible when there are so many business expenses to consider, but it can be done. Use the tips below to make significant savings and free up the resources necessary to grow your business in 2023.


Subscribe to Our Newsletter

Related Articles

Top Trending

Kim Kardashian Response to Taylor Swift
Kim Kardashian's Three-Word Response to Taylor Swift's Diss Track Reignites Feud
myliberla
What Are the Impact of MyLiberla on Personal Empowerment and Productivity
UiPath Launches Data Centers in Pune and Chennai
UiPath Boosts Presence in India: Launches Data Centers in Pune & Chennai
Aces Star Kelsey Plum Files for Divorce
Aces Star Kelsey Plum Files for Divorce After Being Devastated for 1 Year
liverpool vs man city manager succession strategy
Liverpool Trails Man City Due to Poor Manager Succession Strategy

LIFESTYLE

Most Expensive Handbags for Women in the World
Elegance Redefined: 10 Most Expensive Handbags for Women in the World
Gift Ideas for Men
10 Thoughtful and Unique Gift Ideas for Men Who Have Everything
pohela boishakh 2024
Pohela Boishakh: Celebrating Bengali Culture and Heritage Festivities
Korean Beauty Secrets
10 Korean Beauty Secrets for Youthful Energy: Stay Young & Vibrant
Ancient Philosophers Guide to Happiness
Unlocking Happiness: Timeless Lessons from Ancient Philosophers

Entertainment

Kim Kardashian Response to Taylor Swift
Kim Kardashian's Three-Word Response to Taylor Swift's Diss Track Reignites Feud
Netflix What Jennifer Did AI Controversy
AI Controversy Surrounds Netflix's True Crime Doc 'What Jennifer Did'
Kellie Pickler's Emotional Stage Comeback
Kellie Pickler's Emotional Stage Comeback After Husband's Passing
north koreans animate amazon hbo max shows
North Koreans Reportedly Helped Animate Amazon, HBO Max Shows
Song Kang celebrates his 30th birthday
Happy Song Kang Day! Our Webtoon Drama King Takes a Bow

GAMING

F95zone
How to Get Started on F95zone and Increase Community Interaction in 2024 [Gamer's Guide]
Haligdrake Talisman
How to Obtain Haligdrake Talisman Locations in Elden Ring [Gamer's Guide]
enjoy4fun
Discover a World of Exciting Gaming in Enjoy4fun [How to Guide]
5 Tips for Signing Up to a Trustly Casino
5 Tips for Signing Up to a Trustly Casino
Online Poker Trends for 2024
Online Poker Trends for 2024

BUSINESS

Analysts Chase Top Delivery Stock
Analysts Scramble to Keep Pace with Leading Delivery Stock
Tesla Hacked
Tesla Disbands New Marketing Team Just Months After Formation: Report
World Richest Families
Power and Wealth: Top 10 World's Richest Families in 2024
Optimize Sales and Improve Employee Morale
How To Optimize Sales and Improve Employee Morale in Your Business
netflix profit boost password sharing crackdown
Netflix's Profits Soar Amid Password Sharing Crackdown

TECHNOLOGY

myliberla
What Are the Impact of MyLiberla on Personal Empowerment and Productivity
UiPath Launches Data Centers in Pune and Chennai
UiPath Boosts Presence in India: Launches Data Centers in Pune & Chennai
Oracle moves headquarters to nashville
Oracle CEO Larry Ellison Announces Headquarters Move to Nashville
eplus4car
The Evolution of Automotive Connectivity with Eplus4car [Technical Analysis 2024]
Google Gemini Boost Speed on Android Devices
Google Gemini Set to Boost Speed on Android Devices!

HEALTH

impact of emotional trauma on chronic pain
Who is Most Affected by Emotional Trauma-Induced Chronic Pain?
Intermittent Fasting
Unlocking the Power of Intermittent Fasting: Expert Tips Revealed
disease x
Disease X: Scientists Predict Virus Could Spark Next Global Pandemic
A Comprehensive Experience with Dr. Aravind Bhateja
A Comprehensive Experience at Sparsh Hospital in Bangalore with Dr. Aravind Bhateja
why veterans choose Out of Town Rehab
Finding Freedom: Why Veterans Should Opt for Out-of-Town Rehab?