Effective Money Saving Advice For Business Owners

Starting out in business can be expensive. From finding the initial capital when starting your company to the legal and accounting costs in sourcing advice. Sometimes it is important to spend a little bit more money at the beginning to save you unnecessary financial pressure in the long term.

If you run your own business or are currently considering the possibility, here are some of the ways you can save money in the months to come.


You don’t need to rent expensive office space. Many people run a business from their home. This cuts down on rental costs, as well as travel in commuting and paying for any energy you use. An office space in the home, with a computer and printer, is an efficient way of beginning a business when money is tight.

Alternatively, you may consider sharing office space with another start-up company. Like you, they will be keen to cut down on overheads so sharing the expense will save you money in the short and long term.


Your business won’t last long if you don’t market effectively. There are various ways to advertise your company, and some of them can be costly.

When using a lot of ink printing flyers and other promotional materials, print audits save money. Carry your advertising materials around with you. When visiting other companies or attending business events, leave your flyers in noticeable places around the venue.

The internet is a valuable and cost-effective way to saving money. Setting up your own website is a must if you want to look professional. There are a number of web-building services online which enable you to set up a website for free. From here you can advertise your business and set up pages showcasing your product. Provide a link to your social media channels to drum up new followers and customers. Good word of mouth is effective for any company, so asking your personal and business networks to share news of your company, on Facebook, Twitter, etc. is free marketing.


Business insurance is a necessity for most companies. Without it, you could face expensive legal costs down the line. Many small businesses take out public liability insurance. This will protect you financially should your product, or business premises cause injury to somebody else. Taking out insurance early will cover you for unexpected costs, so shop around for the best deals on price comparison sites.

Employing others

You may not be able to run your business on your own, so if you do hire people, consider how many people you need. Rather than full-time positions, outsourcing or hiring people on a freelance basis may be cost effective for your company.

Office equipment

Not everything in your office space has to be brand spanking new. Check online for the best deals, and consider purchasing used equipment to cut down on costs. This can include office furniture, as well as computer and printing equipment. Ink can also be expensive so save money by buying recycled printer cartridges.

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