Hamilton Business Operations:Money-Saving Tips For Small Businesses
(NC)-Uncertain economic times pose special challenges to Canadian small businesses. When the cost of doing business escalates, it's time to take stock and plan ahead to cut costs, lower risk and weather the potentially turbulent times.
Consider the following cost-saving tips:
- Get the most of your office space
Office space can be one of your biggest expenses. If your layout is appropriate, consider subletting unused space to generate extra income. Better yet, if your lease allows, downsize to smaller quarters with lower rent, or take your operation in-house. To fit in to tighter quarters, invest in affordable home office equipment that is compact and designed to be used in smaller spaces. According to Brian Caldwell, Senior Product Manager at Brother Canada, a specialist in office equipment for small business, the company is seeing an increased demand for compact printers, copiers, scanners and fax machines that can sit on the corner of a desk or countertop.
- Get cost-efficient office equipment
Invest in office tools that perform multiple tasks and deliver added value. For example, laptop computers can be used on the go and require less energy than their desktop counterparts. Multi-function centres (MFCs) that offer monochrome black and white laser printing offer the combined benefits of a machine that performs multiple tasks, like printing, copying, scanning and faxing, while delivering the best-possible cost-per-page printing value. "Black and white printing is ideal for businesses that primarily require reports and text documents for internal use. What's more, with only one toner cartridge to replace, these units continue to deliver savings down the road," says Caldwell. Good options for cost-conscious small business owners include Brother's economical, space-saving and wireless network-ready MFC-7840W model. For even more savings, consider equipment with a built-in duplex capability such as the Brother MFC-8860DN, available at most office ret! ailers and online at www.brother.ca.
- Get your numbers in order
Invest in accounting software to keep track of expenses. Review expenses regularly to identify buying patterns and look for opportunities to save and buy items in bulk.
By taking a few precautions and keeping a sharp eye on expenses, small business owners can weather economic downtowns while building a solid foundation for the future.