Thinking of Economizing your small business?- Here are some cost cutting tips

BANGALORE,INDIA.

In this economically challenged times, Small businesses have to consider cost cutting options in order to survive. If you are one of them who are planning of economizing your small business-here are some cost cutting tips.

Small savings on electricity like turning off the lights when not required, using energy efficient bulbs, trading of desktops for laptops or save energy by trading of big CRT (Cathode Ray Tube) monitors for LCD monitors.

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Small investments like buying a scanner and getting an internet connection for the office can save a lot. Investing in a scanner will allow you to scan documents to send via fax on the web. Embracing the Internet can save you ink, paper, stamps and time. Moreover emails are free and instant medium to send documents, flyers, bills and with electronic signatures one can practically throw the stamp machine out the door.

Many bill payment options are now available through bank, which would eliminate cheque transaction and also the late charges when snail mail doesn’t get your payment there on time.

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Net Meetings, Conference calling and Video conferencing are the options which helps to save a lot of dough on travelling in this costly era where petrol prices keep on increasing every other day. Digital phones loaded with bunch of facilities can also serve as a good option to save on extra costs.

Work-From-Home is also a good option to save money on employees and office space. Lesser the people, lesser the space required, lesser the equipment required, lesser the energy used, and more cost savings.

Use of “Green IT” and “Cloud Computing” can do wonders for SMB's. “Cloud Computing” refers to Computing in which services and storage are provided over the Internet (or "cloud") wherein Green IT is a practice/method to use IT to conserve energy.

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SMB's can also use other options like invest in water filters instead of bottled water, use of solar lights in times of power cuts, and also by making employees develop healthy habits like using stairs instead of lift.

“Charity begins at home”. This saying is very much relevant for SMB's while thinking about reducing on their costs. By doing these small little things one can not only do good to their businesses but also can make a difference to the environment as a whole.

Source: www.smbblog.blogspot.com