Starting a business with high profits and low start-up costs is every entrepreneur’s dream. But how can you ensure that you are minimising all costs?
Use your mobile
Doesn’t sound like much of a cost saver, does it? But most new start-up businesses immediately use traditional telephone lines which can have unnecessary start-up costs, compared to just using your standard mobile phone, saving your start-up business costs.
The cost of ink, paper and postage may seem very minimal. A couple of quid here and there doesn’t seem much of an expense. But in the long-run, think of all that ‘minimal cost’ adding up over all those weeks, all those months, and all those years. It will, in fact, become one of your main money gobblers. By going paperless, you will save up on that few quid here and there, and will inevitably save up quite a lot of costs. Try not to print and use ink unless absolutely necessary, and send documents via email wherever you can.
On the green side, you will be nature friendly!
Buy pre-owned furniture
If you want cheaper furniture, but yet with the same quality as expensive furniture, why not buy second-hand furniture? This way your business place will have a high-quality standard, yet with low costs.
Use alternative physical places for your business
Instead of especially buying/renting out an office, why not have a home-based business, or a serviced office area whenever needed? This way you can remain professional without having high business location expenses.
Want further advice and tips on how to save on your start-up business costs? Click here to book a FREE consultation now!
Shoaib Aslam is the co-founder of Pearl Chartered Accountants, a UK-based chartered accountancy firm that has multiple locations across London. They are experts in helping startups and established businesses with all aspects of growth, strategy, scaling up, accounting and tax planning.