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Reading this article could

really pay off in the long run



for Small


No matter what type of small business you have, you should be able to find at least a few ideas

here to help you cut costs. Every dollar counts, so it’s important to save wherever and whenever

you can.

Go Paperless

You can lower storage and printing costs as well as improve overall

efficiency by running a paperless (or near paperless) office. Try to

scan documents and keep electronic records as much as possible.

Go Green

The more energy efficient your space is, the lower utility costs

you’re going to have. For more information on greening your

spaces, check out Energy Star, a program run by the U.S.

Environmental Protection Agency.

Lease Equipment Rather Than Buy It

A lease allows you to avoid the big upfront costs you’d face when

purchasing equipment. You not only conserve your company’s

cash but can also save money in repairs, upgrades and mainte-

nance since many lease agreements cover these expenses.

Ask for the Discount

The suppliers you work with may have quantity discounts. To find

out, ask about discounts and what you need to do to earn them.

You may be able to get anything from an interest-free loan in the

form of vendor credit to a healthy discount for paying early.

Barter With Other Businesses

This is an old-school strategy, but it can definitely still be effec-

tive. If you need a good or service and have something of value

to offer in return, this could be a money-saving route to take.

Stay on Top of Your Accounting

When money is tight, things like late fees on bills or a client who

doesn’t pay on time can be a significant problem. Make every

effort to ensure your collections are on time and outstanding

balances are minimized.

Don’t Buy in Bulk

Small business owners often buy things like office supplies in

bulk because the per-unit cost is lower. But you have to ask your-

self, “Will we ever really use 1,000 pens?” Generally speaking,

it’s better to buy only what you need today and free up your cash

flow for other things.

Another way to cut costs and improve efficiency is

with a money-saving business bundle from Great Plains

Communications. To learn more, visit