How to Reduce Business Spending in 2011

How to Reduce Business Spending in 2011

The end of a year is often a great time for businesses to examine how they did over the last 12 months. It’s also a great time to get into the financials, and examine ways of cutting costs while keeping happy employees.
Some things to look for and how to reduce your Business Spending for the upcoming year.
1. Do you really need new computers and the latest software to do what you do? Computer companies would have you believe you need to upgrade models every year, buy the newest software and be on the leading edge of technology. Before you make any of those purchases, it’s a good idea to examine if you really need them. If what you have is working fine, there is no need to upgrade.
2. Save some money on your monthly utilities – When is the last time you looked into getting power from a different company. Energy companies have been deregulated, and you can probably find your power for a cheaper price, but you have to ask. Internet providers keep lowering prices so ask around about saving money on your phones and internet connections.
3. Look for ways to reduce company expenses – So many big companies have gotten in trouble with expensive company retreats to exotic locations. Are there any ways your business spending can be reduced by flying less, teleconferencing instead of traveling and having company retreats in town.
4. Find creative ways to get work done without new hires – Temporary employment agencies have very qualified people in their pool of talent. If you have extra work that needs to be done for several weeks try a temp instead of a full-time hire.
5. Keep your employees happy and they’ll work harder for you – There is no better way to have happy workers than to compliment them once in a while. Do so and your business will reap the benefits.

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