Growing businesses need to save all of the cash they can—especially if they are considering a move into a new office rental space. Here are some more tips for tightening up your finances:
6. Avoid high bank fees. Banks these days are trying to make more money off of fees to compensate for all of the new regulatory changes. Do everything in your power to steer clear of bank fees that are avoidable, such as bounced check fees, ATM surcharges, and debit-card fees. Consider even switching banks if you think you can save more money by doing so.
7. Think about bundled services. Sometimes companies can bundle services such as phone service, internet, cable, fax, and web hosting. Your business could potentially save hundreds of dollars per year by bundling just two or more services from the same company.
8. Use payroll debit cards. Your business can cut back on administrative costs by using a debit card payroll system, which bypasses the expense of printing checks and even lowers fraud risks.
9. Keep track of employee spending. Employees at any level could be misusing or abusing company credit cards. Avoid these issues and save money by setting guidelines, monitoring monthly spending reports, alerts, and activating preset limits.
10. Use electronic invoices. You can email invoices (e-voicing) directly to your customers, which will reduce your business’s printing and postage expenses.
Saving money in a multitude of little ways can add up for your business, and potentially allow you to save up the money to move into a bigger and better office rental space in Kansas City.
To find out about our available office spaces, call Kathy Woodward at DDI Commercial at 913-685-4100!