Running an office can be a challenge at the best of times, but doing it on a tight budget isn’t a lot of fun at all. There are ways to make it more manageable, however, so that you can take control and make the most of your finances. Try these tips to improve your situation immediately.
1. Mind the pennies
There are a lot of things you might do around the office that only cost pennies – but all of those pennies add up. Mind the pennies, so the saying goes, and the pounds will look after themselves.
Make sure that any electronics not in use are turned off – including the lights and the air con. Shut everything down at the end of the work day. Discourage your employees from using the printer unless it is absolutely necessary. This is all great for the environment as well, which is a huge bonus – and also an excuse, if you aren’t comfortable with letting everybody know that your budget is stretched thin.
2. Find a sensible space
Office space rent is going to be one of the biggest overheads your company has to deal with. Keeping that in mind, this is also the area where you can make some of the biggest savings.
Don’t be tempted to put your office in the centre of a city, where the rates are exorbitantly high for only small rewards. Go out of the city to a smaller commerce hub, and try managed offices. These help keep costs down by the fact that a lot of things are covered in the same price: maintenance, care of the grounds and outer building, and customer facilities, for example.
3. Cut down the luxuries
There are some things you might think are essential to your company culture. These might be the tradition of buying your employees cakes on their birthdays, leaving lots of snacks for people to take in the break room whenever they want them, and having coffee on demand for free.
But if you cut down your luxuries, you will see big savings coming in. Instead of the company buying a cake, you could encourage employees to chip in for one another – or supply cheaper party food. Buy fresh fruit in bulk for pennies rather than more expensive snacks. Switch to a cheaper coffee brand. Your employees will be thankful for the fact that they keep their salaries as a result.
4. Ask for creativity
In any business, there will be areas where you can cut down costs. Who knows where to find them? Likely the very employees who work in each area. Ask them directly for creative ideas on where you can save money, and what they think should be an area for cuts. You might be surprised at what they can come up with!
Cutting your costs is essential for keeping inside a low budget, and it’s never easy. But once you are on track, you’ll be able to continue in a much more comfortable position.