Is Your Business Overspending on Supplies?

Look around your office. Chances are, you’re surrounded by opportunities to save your business money! Whether you’re an established company or just starting out, working out of your home or in a commercial high rise, these five tips could significantly reduce your spending on supplies:

  • Paper Poor No More: Want to reduce storage and printing costs? Use a scanner to transfer your file cabinets onto your hard drive, correspond with your customers via email, and use electronic invoicing.
  • Go Green: Reduce utility costs by subjecting your business, whether home or offsite, to an energy audit. The resulting improvements can save you up to 20% on heating and cooling bills, and many states actually offer free programs. Reduce your electric bill by installing fluorescent and LED bulbs. Check out Energy Star, a U.S. Environmental Protection Agency program, for more details and ideas.
  • Buy Generic: From snacks to office supplies, the quality is often the same, and they are cheaper than name-brands.
  • Learn to Lease: Before you buy new equipment, consider leasing instead. Contracts often cover repairs and upgrades.
  • Ask for Discounts: Many suppliers offer quantity discounts, or discounts for paying early. Don’t be afraid to ask what it would take to qualify. And remember, if you’ve established a working relationship with a vendor, “good guy” discounts do exist.

The money you save in-office can make a huge difference in your business’ financial stability.