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Cut Small Business Expenses, Save Big Money

CC - Photo By Tax Credits via Flickr

CC – Photo By Tax Credits via Flickr.

Want to save money but don’t know where to start? Most of your money in your small business goes toward expenses. Employee pay, inventory and rent expenses are the biggest money eaters.

Small Business Trends let’s you in on some tips to cut back your expenses and put more money in your savings account.

Payroll Taxes:

Instead of bonuses, offer employees added benefits. This will lower your payroll taxes.

Rent:

The state of the economy gives you room to negotiate for a lower rent, even on a fixed lease.

Hardware Footprint:

Desktops use more juice than laptops and tablets.  Make the switch, and you’ll save in the long run.

Utilities:

Turn off your lights when they’re not needed. Switch out your bulbs for energy efficient ones. Shut down computers at night.  Turn off you surge protectors when not in use.

Interest:

Make deposits as earlier in the day as possible.  You’ll get credit for it and begin accruing interest the very same day, which means more money in your pocket.

Check out Small Business Trends’ Bolt Insurance infographic for more expense cutting money saving tips.

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About Hanna Russmann

I am a senior at Simpson College majoring in multimedia journalism and minoring in management.

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