The Price Isn’t Right! How To Cut Business Costs Without Cutting Your Workforce

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When it comes to running a business, it is always difficult to find ways to cut back, especially if your business is new or you have a lack of funds. You may ask yourself “where do I begin?” Are there actually ways to cut corners without having to reduce staff amounts and cause your business long term damage? There are approaches that you can take to help the business become more eco-friendly. But what about the fundamentals in business? The things that you need to keep your business active and turning a profit. Here are some things to think about.

 

Outsourcing

Outsourcing a freelancer to complete short term tasks for you is cheaper than having a full-time member of staff. Overall this has benefits for your business infrastructure and cuts costs on human resources, maintenance costs, and office space. There is the argument that outsourcing a freelance member of staff is an insult to hard working full-time workers. Although this is exactly the same as big businesses hiring interns or temp workers. The additional benefits is that if they are suited to the task you are able to cut ties easier.

 

Switch Energy Supplier

Sometimes the most simple way to cut out business costs is to reduce the amount of energy that you are using. This could be something as simple as changing your energy suppliers. Look for the energy supplier that will give you the best deal over a longer period of time. Energy suppliers like Company Energy cater specifically to businesses.

 

Encourage Home Working

If you are in a start-up environment this could be incredibly beneficial in the infancy of a business.  the benefits to having staff work at home include reduced energy costs, and reduced costs overall when it comes to human resources and office space. the downside to this is that communication can be limited and human interaction is reduced significantly. Although if the business is incredibly small, with only a handful of staff members, then this is a great way to start cheaply. With the advent of virtual assistants and mailing addresses you are still able to keep up the pretence of a fully functional business while working out of your home.

 

Exchange Services

A way to reduce costs in a startup environment is to offer your services to another business in exchange for their services. The benefit to doing this is that it is free, all they ask is for your specialist skill. Another benefit to this is additional networking. If you do a good job for them then this can snowball into other companies and so your contacts are increased.

 

Multi-Skill Your Staff

When it comes to startups, you need to be able to operate with as fewer staff members as possible. Having staff that are skilled in more than one thing will cut costs and keep the business afloat. Even in the common workplace, certain roles are being phased out. Leaving current staff to expand their duties, and this is in big businesses as well as small ones. So this is a major necessity when it comes to cutting costs for your business .

 

This article was provided by ellie jo

The Price Isn’t Right! How To Cut Business Costs Without Cutting Your Workforce