When you are in charge of running a small business, it is vital that you keep your overheads low. Otherwise, you could end up overspending and creating an unnecessary amount of debt. That is why you need to evaluate all your company expenses and work out whether there are any areas where you could be saving money. One of the best places to start is with your premises. This is an essential part of your organization, so you can’t afford to cut corners; however, it is also an area where it is possible to manage your spending. Below are four ways that you can save money on your company premises.
One option is to turn your company premises green. This is a fantastic opportunity for you to save money whilst saving the environment. You should encourage all your staff to switch off their devices and equipment after they have finished using them. You should also check out your insulation and make sure that warm air isn’t escaping from your building. Finally, you should have solar panels installed on the roof of your premises. This will help you on your journey towards self-sufficiency and will keep your monthly bills down.
Share your costs
Instead of taking on the full cost of your premises, why not share your expenses? You could do this by grouping together with another company. Ideally, you want to find an organization that has ties to your business, but is not a competitor. This will allow you to share resources, without putting your brand at risk. Alternatively, if you have purchased your own office space, you could consider renting out some of the rooms. This will provide you with an extra income and will ensure that the space you have is being maximized.
Encourage your employees to work from home
Another idea is to encourage your employees to work from home on certain days of the week. In this digital age, it is extremely simple for a business to operate remotely. This could save you from having to pay for a permanent work space or provide you with more of an opportunity to rent out your rooms. Why not set an example to your employees and have a go at working from home yourself? All you need is a suitable home office space and a strong internet connection. Then, you can Skype your meetings, and collaborate with colleagues via the cloud.
Buy in an up and coming area
If you do decide to purchase your company premises, instead of renting out a space, you should buy in an up and coming area. This will help you to enjoy the best of both worlds. Over the years, your area will become more and more desirable and will help to attract new clients and industry contacts. You will also have got your foot on the property ladder before the prices begin to sky rocket. Buying in an up and coming area is also an excellent way to ensure you make a profit when the time comes for you to sell on your property.