Top Money-Saving Tips For A New Business

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For anybody entering the ever-growing world of business, the number one struggle in the first twelve months of operation is business funding.

When setting the business up, costs can sometimes spiral out of control. We are going to look at just a few money-saving alternatives you could employ in your industry. These options may save you a little money and also streamline your business is other ways.

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Image Credit - Pexels - CC0 Licence

Outsource Where Possible

One of the first things a business that requires additional staff should consider is outsourcing. When calculated over the space of your first year of operation, it can be highly beneficial to outsource solutions, rather than to hire an entire team.

Given the rate of technological increases today, you can outsource almost any requirements of your business. There are three main jobs you should consider outsourcing initially, and they are shown below:

  • Accounting - Having your accountancy managed and ran outside of the business enables your first year’s accounts to be handled by experienced teams. These teams can guide through the tough times that your first year will present. The accountancy firms can also help you keep on top of costs.

  • Call Handling - Call handling services will free you up more time in your working day. Call handling is a great cost saver when it comes to customer service too.

  • Network Solutions - Having your IT and networking managed elsewhere in the first year of operation can not only save you money, it can also help you plan any future IT needs you may have. One thing you will always get with outsourced IT solutions is a 24/7 support service.

Cut The Business Phone Line

A huge expense for all businesses is the cost of a business rental phone line. The cost of this alone to small companies can be crippling. There is, however, a solution to this. This solution is called VoIP (voice over IP). This solution is a network-based phone service that offers a business based phone line with added extras.

Having VoIP Solutions can not only reduce your monthly bills; it can also enhance your business presence.

VoIP works by connecting to your network and is controlled by a customer dashboard. The customer dashboard itself allows you to divert calls and even set up area code numbers of your choice that will all divert to the same line.

Budget Marketing

When people think of a budget, they believe automatically it's bad. With marketing, this is quite the opposite. Any form of good marketing is generally free.

The very best form of marketing has always been word of mouth; this, of course, costs nothing. The modern age has, however, presented us with social media. Social media, on its own, can provide us with a great form of free advertising.

Whether you are creating a YouTube video or a video for Facebook, social media should always deserve your attention. Given the right angle, it has the opportunity to hit the eyes of millions and should always be factored into your long term marketing plan. 

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