Reduce Expenses in a Home-Based Business

Hi! Hope you have a great weekend with your family. During the weekend I received few emails on asking how to reduce expenses on my work from home business during this difficult time. Working from home is less costly than renting office space. Once you have decided to skip the hassle and expense of commuting, there are additional ways to reduce your costs. Here are some tips for you today.

1. Keep complete and accurate accounting records, and review your expenses at the end of each month to determine where you could cut back.

2. Join a purchasing alliance for small and home-based businesses to get discounts on everything from health insurance to office supplies.

3. Purchase a multifunction copy, fax, scanner, and printer machine. This can save on the costs of buying each one of these separately. (All-in-One machine).

4. Take tax deductions for business use of your vehicle and home.

5.  Try to earn supplier discounts by paying an invoice within 10 days of the invoice date.

6. Give free Internet access services a try, i.e. free broadband hotspot.

7. Talk to your insurance agent about ways to cut insurance costs.

8. Use a small business accounting program instead of paying a pricey accountant software. This can save you hundreds or even thousands of dollars a year.

9. Do not pay for marketing and promotional services for your home based business. Use your website as a way to advertise your products and services. Add your URL to your website in your signature when participating in online forums and groups. Take your business cards with you to pass out whenever you meet someone who might be interested in your services.

10. A fellow friend helped me learn an important lesson. Write up a job description and send it to the career placement office at your local college. If you want a student with a particular major – such as biology or marketing – contact the secretary of that department at the college. You will help a student gain experience while you get the assistance you need.

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2 Comments so far

  1. […] Read the rest of this great post here […]

  2. Locksmith on December 22nd, 2010

    Concerning security devices, specifically for businesses, I have to concur with what you’ve said entirely. You can find so many choices in the marketplace, it’s essential for any professional to know what is most effectivefor their scenario and particular building. The observations you’re giving actually are a excellent help to businesses and as well as security experts as well. Many thanks once more!

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