Effective Cost-Cutting – Top Strategies for the Small Business

If you manage a small business enterprise, you will always be looking for ways to reduce running costs without impacting the organisation. Times are hard for every sector, with rising inflation and increased costs, which forces you to start looking hard at your processes, and with that in mind, here are a few ways to reduce business running costs.

  • Employ people with disability – The Australian government has a wage subsidy scheme for employers as an incentive for companies to hire disabled people. There are many tasks they can complete to a high standard, plus your business will be regarded as inclusive when you hire people with disability. Many Australian companies are supporting the disabled with suitable employment and you can benefit financially.
  • VoIP communication – Why pay that per-minute rate that the telecom giants charge? Voice over Internet Protocol uses the web to send and receive audio and video data and is much cheaper; get all employees to use Zoom or Skype for Business and see your communication costs tumble! Click here for info on a new VoIP platform called Zoomee.
  • Working from home – The pandemic saw many employees working from home and as far as the company goes, running costs are slashed and if the business is not suffering as a result, why not keep certain people working remotely? The level of digital tech we currently enjoy enables remote work; managers can have daily Zoom meetings with either single employees or in groups.
  • Automated business processes – Whether you run a chain of restaurants or a haulage company, sector-specific software allows you to streamline your business processes. This eliminates double handling, which costs money and human error is a thing of the past with the right business software. Talk to a software developer and see what they have to say; a Google search would reap rewards and the developer would offer a free demo so you can see for yourself how your processes can be automated.
  • Cloud data storage – Migrating your business data to the cloud offers many benefits, which include cutting running costs; authorised personnel can access data from any location and they don’t need special software to do so. Talk to a managed IT services provider about cloud networks and they can demonstrate the many benefits this brings to the table. You can create permissions and allocate usernames and passwords, which you control from a single interface.
  • Outsourcing – Medium sized companies can save a lot by outsourcing; take a company with a fleet of vans that deliver goods to customers; the cost of running a fleet of commercial vehicles is high and by using a local 3PL company, they can save a bundle and enjoy efficient logistics.

As you can see, there are a few ways to reduce your running costs and with the right strategies, your business will enjoy steady growth. Plan your future carefully and make best use of available tech to cut costs and improve efficiency.

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