The experts are saying the recession is over, but it sure doesn't feel like it for this small business owner. Costs of running a business are higher and revenue is lower.
Below are a few helpful tips to save money during tough times:
1. Remember when we were told that computers would eliminate paper work? Well, it ain't true! Paper is still a major expense for most offices. However, a small business can save money by using less expensive copy paper for most internal paperwork. Save the high-end, more costly paper for customer correspondence.
2. Partner with other business when advertising. Advertising is one thing a small business should not cut back on during a recession, but by partnering with other businesses, costs can be shared.
3. Talk to other business owners. Brainstorm, share ideas - the more business heads that get together, the better.
4. Ask employees for ideas. These are the people who work in the trenches. They can offer practical suggestions about where to save and how to streamline. They have a vested interest in making sure the business stays afloat.
Maybe the recession is showing signs of improving. If we have hung on this long, we can do it for awhile longer.
