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When businesses try to cut costs, they sometimes think their only option is to cut budgets. However, there are many expenses that businesses can cut right in their own office. Business consulting expert Ken Gaebler of Gaebler Ventures even said that office expenses can amount up to as much as 5 percent of total revenues for small businesses.
As Reporter Abby Johnson explains in this broadcast, 5 ways to help businesses cut their office expenses include:
1. Operate virtually as much as possible
2. Re-negotiate your lease
3. Share office space with another business
4. Check out economic development zones
5. Find short-term rentals
To see a full explanation of these tips, tune into this broadcast right here on SmallBusinessNewz.com.
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One of the simply ways to save on printed materials is to recycle them by converting printed emails into short note pads. I have seen much use of printed emails and i am sure paper disposal is still not perfected in many corporate enviroments.
Another simple measure which many companies dont follow is switching off the PC’s, monitors and lights before leaving for home. We recycle used paper to make notepads/rough registers and even re-printing on the reverse.
Hidden Expenses are an issue a business will have to allow for. These can add up and reduce any Return On Investment.