8 Unique Ways to Cut Business Costs in 2014

In today’s progressing economy, costs are augmenting quickly for business organizations. Whether it is the cost of office space, equipment or labor; businesses are looking for ways to reduce these costs so that they can retain maximum profits. Though you cannot completely eliminate your costs, they can be effectively reduced with the right strategies. By adopting smart options you will be able to efficiently reduce costs and in the bargain, garner more profits to venture in to other areas of business At Bizcostsavers B2B marketplace, we help you to connect with providers of alternate cost saving solutions from low cost technology to freelancers, shared office space and more. We understand the importance of reducing costs therefore we provide unique ways from which you can benefit.

In recent times, many companies are switching to various solutions that are both beneficial to them and others. Therefore we make it simpler for you by providing you a one-stop solution for all your business cost management requirements. Here are eight unique ways to effectively implement the following strategy:

Outsource

Instead of employing people on full time basis as your staff, you can bring in freelancers or independent consultant for short term contracts. In this way, you can cut costs by not having to pay full time salary with benefits as a regular employee requires. With such short term projects, you will also have the opportunity to analyse the talent of such short term freelancers and employ them later on full time basis because of their good work.

Buy Used Equipment

Utilizing equipment for your office which is even a few months old will considerably decrease your costs to a large extent. Since technology keeps improving over time, you will be able to get huge discounts on software and hardware that was recently replaced. There are various companies willing to provide office furniture which have been used but are in excellent condition. The investment here would be smart and feasible for any business venture.

Supplies

Make it a point to use recycled products in the office such as recycled printer cartridges, paper and office stationery. There are many stores which offer office supplies made out of recycled products. Not only does this reduce your costs but it creates a strong impression on your clients about your ethics and values. Make an effort to reduce consumption of paper and make everything more electronic.

Office Space

Buying an individual office space can result in high investments and liabilities, so the best option would be to share office space. Adopting the co-working concept ensures that your costs are reduced and you get an office in a prime location with good facilities. This provides other added benefits like networking, sharing knowledge and gaining potential customers. Shared office spaces are extremely profitable for new business ventures as they start off with considerably low budget and aim to reduce costs from the beginning.

Reduce Energy Consumption

Changing to CFC bulbs, adopting rain water harvesting, using energy efficient appliances and installing water saving taps can reduce so much energy consumption. In the bargain you will be taking care of the environment as well. Taking notice of small things like turning of electrical equipment when not in use can work wonders to reduce electricity bills.

Hire Interns

Hiring interns will be a constructive option for both the interns and the business since you enjoy low cost labor while they enjoy the experience of working. Though interns may require some training, you will still be getting work done for a lesser amount than employing someone for it. There will be new exposure and a change in the office environment too which is good for the company once in a while.

Work at Home

Allowing employees to work from home even once a week will bring down your electricity costs to a large extent. Invariably you may end up occupying a smaller office and reducing the cost of office space as well if your employees are allowed to work from home.

Shared Transport

Provide shared transport for your employees by contacting companies which provide such services. This will reduce your transportation costs considerably over time. Instead of providing individual transport facilities, carpooling is another way to effectively reduce costs as well. Apply this ethical solution for your employees so that they can understand its value as well.

Each business venture has their own set of requirements and liabilities. At Bizcostsavers marketplace, we help you search for the best solution for cost cutting in your company. By lowering your business overheads, your business will function smartly in the long run, setting you apart from your competitors. You may even use this as a marketing value for your company.