Saving on overhead costs

Saving on overhead costs

Owning a business will, especially for new business owners, entail a number of fees and costs that can reduce profits. Luckily, there are many ways to save money on overhead costs. Below are just a few:

Brand ambassadors
Saving costs on marketing and promoting your business by using existing customers as brand ambassadors is an economic strategy. In this digital age, it is a promising way to not only save money but increase profits. There are many ways in which businesses can use ambassadors to suit their individual needs, so ensure to research what is best for you.

Go green
Going green may entail some upfront costs, but will help save you unnecessary costs in the long run, plus it is good for the environment and good for your business’ image. There are hundreds of environmentally responsible changes your business can make to save money, such as:
– Going paperless
– Introducing plant life to offset CO2 emissions
– Changing lighting to LED or CFL
– Communal bins to reduce use of excessive plastic bags
– Encourage recycling
– Resources to make coffee in the office to prevent employees buying takeaway coffee cups

Conduct a review
Regular reviews are essential for saving money. It is important to know how and where you are spending money, and by reviewing processes often, you can easily assess ways to cut costs and save money. Different areas of the business you may like to review include:
– Employee performance and output
– Internet and phone plans
– Manual processes
– Structure of the workplace


If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.

Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.

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