6 Things Small Business Can Avoid to Save Money
These six items are purchases, services or fees that you might be able to cancel or avoid in order to save money at your small business:
No. 1
Cancel newspaper and magazine subscriptions
If you have a lobby or waiting area, reuse the old magazines that you already have or limit your subscriptions to one or two magazines per month. Your customers do not need to read the most recent edition of a magazine to pass the time. Try contacting local libraries – they often throw out old magazines after they receive the next issue. You may be able to acquire these reading materials for free each month.
No. 2
Do not buy from unsolicited vendors over the telephone
When you receive sales calls, watch out for scam artists and other shysters who are trying to sell you things that you do not need. They may use the names of recognizable companies or brands. It is important to verify that you are talking to a real representative on the phone before agreeing to purchase any products or services.
No. 3
Do not buy equipment that uses disposable batteries
Things like a wireless mouse and keyboard will cost you a lot in batteries each year to operate. If you buy USB plug in devices, you will not have to spend anything over and above the cost of the peripheral. Look around for other things that eat up batteries and replace with corded models. Corded equipment options are generally cheaper than their wireless counterparts, so it adds up to a double savings.
No. 4
Avoid annual preventative care service contracts
It is better to pay repair costs only when they are needed. Paying for preventative care or maintenance service contracts means you are paying to repair equipment that is not actually broken. You can save money in an emergency fund to pay for repairs when they are actually needed.
No. 5
Use free or basic business banking accounts
Banks can charge exorbitant service fees on business accounts. Choose a basic business account or free account if available and do not sign up for any bells and whistles. Also, keep a close eye on your balance to avoid any overdraft fees. Do not order your check stock directly from the bank; the cost is typically inflated.
No. 6
Do not pay for music services
There are plenty of local radio stations to choose from, and lots of free online options for a wider variety of music genres. It is unnecessary to pay for piped music or subscriptions to satellite and Internet radio.
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