Running and owning a business isn't always sunshine and rainbows. It's a constant merry-go-round of balancing the books, penny-pinching and trying to keep your running costs low and who has the time to constantly re-evaluate all your business spending? That's why we've compiled a handy little list of easy things you could do now to save money in your business.
1. Make use of free services
Whether it's free online courses or free software, there are some fantastic resources out there for nothing! Great sites like Canva help users create posters, social media posts, email headers and much more for absolutely nothing.
Free online courses to help train you or your staff are also available and accessible to find after a quick google search. Take advantage of these free resources to save those much-needed pennies.
2. Shout loud about your business
You may be a small business, but that doesn't mean you have to play small. So, look into how much free marketing and PR you can get. Call local newspapers if you're launching a new service or product that you feel has a positive impact on your community or local area. Get in touch with local radio stations too.
Team up with companies who complement your business and maybe sponsor an event together. Maybe offer free taster sessions to get people excited.
Utilise social media - a great way to spread your message and brand awareness for free. Maintain telling your daily business stories and joining in as much as possible on social media, and watch your business and brand grow.
Think about a podcast or running a competition to help get the word out about your offer - all positive, free ways to maximise your business audience.
3. High Energy bills? No need to stay loyal
Gone are the days of sticking with one energy supplier and staying loyal to them. You've got to up your game and think about switching suppliers. Not only are there great deals for new customers, but suppliers now offer competitive deals to keep their existing customers. So compare business energy tariffs using our services, and you’ll be surprised at not only how easy it is, but how much money you could save a year.
4. Hire some help
Don't hire a full-time marketing manager or accountant if the job doesn't take up full-time hours. Hire freelancers to do the work. This not only saves you time and money, but they're usually experts in their field and will get the job done much more quickly than someone who you have to train up. It also opens you up to new people and new contacts.
5. Join a free networking or voluntary group
Get in touch with your local voluntary organisation, and they should be able to direct you in the right direction. Networking can feel like a competition of who's the best, but when you find a supportive group, it really can open you up to new opportunities and new people who you wouldn't have met otherwise.
Owning and running a small business can sometimes get lonely, so finding like-minded people can make you realise why you started in the first place.
6. Think about consolidating outstanding finance, or look to alternative funding
Whether you’ve been in business for years or you’re a young start-up, it’s always great to get your hands on the best business loan out there. It can feel like a minefield when looking for a loan that is suitable for your business needs, but with a little bit of work, it really can help you massively in the long run.
Searching for loans can feel like a real chore, but fear not, we’re here to help you. Even if your business has more than one line of existing credit, you could consider a loan that consolidates your debt it into one easy cost-effective product. Leaving you more time to concentrate on the important stuff. Search the market with Capalona and see if your business could save money.