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Iceni Magazine | July 2, 2022

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Unusual Ways Your Company Can Save Money

unusual Ways Your Company Can Save Money

If you run a business, saving money is undoubtedly high on your agenda.

Competition out there is fierce and margins in many industries are very tight, so anything you can do to lower your expenses and boost your bottom line is sure to be welcome.

That’s why we’ve put together a list of some of the more unusual things your company can do to save money, that you might not have thought of before…

Drop your clients

Okay, so this may sound strange but hear us out; if you have a number of clients who do not bring in much income for your company, it may actually save you money to drop them and focus on your existing clients who are profitable, as well as pursuing new and profitable clients too. Obviously, if you are just starting out and you don’t have a lot of clients, this may not be sensible, but if you have plenty of profitable clients already, it could actually work out to your advantage.

Lease your equipment

Most business owners think that leasing things like computer equipment and printers is more expensive in the long term, but thanks to services like these managed print services, that is not necessarily the case. When you factor in maintenance and repairs, it can often be cheaper to lease various necessary equipment rather than buy it. Obviously, you need to take this on a case-by-case basis and do a cost analysis before making a decision, but leasing is not always the most expensive option, so do bear that in mind!

Stop using paper

Paper is such a ubiquitous part of most offices that it may seem inconceivable that you could stop using it, but more and more companies are choosing to transition to paperless offices and doing so can save a huge amount of money on paper, ink, and storage facilities. You may even be able to downsize your office space when you no longer need so many filing cabinets and storage spaces, which could save you a significant sum in and of itself!

Switch to remote meetings

If you can get rid of meeting altogether in most cases, that would help to boost productivity across the board and thus help you to save/make more money. If that is not possible, then switching to remote meetings is sensible as it will mean feer travel costs and fewer business expenses overall, while also minimising the amount of time any of your employees need to spend out of the office.

Train your staff regularly

Offering regular and updated staff training and development sessions may seem like an extra business expense, but the better trained and qualified your staff are, the more effective they will be at their jobs and the fear mistakes they will make, which means you will make more money by being a lot more efficient company and save money on the cost fo complaints, litigation, and other errors.

As you can see, there are lots of interesting and uncommon things you can do to save money for your business, so why not put some of them into action right now?

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