Simple Ways You Could be Saving Money in Your New Start-Up August 14, 2018PINK NotesOff

As a female entrepreneur, it can feel like a real uphill battle starting your own business. What is already a difficult enough task on its own can sometimes feel amplified in the shoes of a woman. The good news is that times are changing, and according to stats there are now more women who are running their own companies, as they now make up 33 percent of owner-managers in Australia.

With that said, it’s always nice to come across tips and advice that can make owning your own business smoother and more efficient. One of the main stressors that entrepreneurs face is the financial side of things, as it often feels as though there is a lot more money leaving the business than coming in at the beginning. If that sounds like your experience, then you’re going to want to read on and check out these simple ways you could be saving money in your new start-up.

Have an Energy Audit Conducted
People are often cognisant of how much energy they use at home and look for ways to conserve, but that same principal doesn’t always follow into the business landscape. This is exactly why it can be helpful to have a professional energy audit done conducted by a professional, like these energy saving specialists here. They can come out and do an audit on your business/company, provide you with suggestions, make installations and changes, and start saving you money.

What they focus on is lighting, which can really rack up your business expenses. By simply changing out your lighting, you could be saving up to 80 percent on your overall lighting costs, which is a significant amount of money.

Lease, Rent, or Buy Used Equipment
It doesn’t matter what kind of business you operate, or what industry it is in, you will need equipment of some sort. Even if it’s just basic equipment like office furniture, computers, and phones, you still need those items. Rather than buying brand new, you can save a lot of money by leasing, renting, or buying lightly used equipment. Often, the used equipment looks barely broken in at all, and yet the savings can really help your bottom line.

Opt for Contractor, Temporary, and Part-Time Employees to Start
When you first start your business, you want to relax when it comes to hiring. Sure, you need people to get the job done, but if possible, hold back on hiring a huge staff of full-time employees until the need arises. Instead, you can use contractors, temporary staff, and part-time employees. As your business grows, so too will your need for additional staff.

Pay All Expenses, Bills, and Invoices on Time
Another tip is to make sure you are making all business payments on time. Late payments will be subject to late fees and expenses, which is basically like throwing money away.

Getting Smart with Your Expenses
Saving money in your new start-up is all about getting smart and looking at things in a more practical and business-savvy manner.

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