7 tips to reduce your business expenses!

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Entrepreneurs, we know that when creating your business , all expenses count and you cannot spend unnecessarily. Also, consider checking what your allowable business expenses are . We therefore offer you our 7 tips to help you spend less or more efficiently!

1. Time is money! Use time management software

By using time tracking software , you will be able to know exactly how much time you have spent working on each project so you can pay your employees accurately. Thus, you will no longer have to round off the hours or pay an employee who often arrives late. It will also allow you to better know how long each project takes so that you can better plan the next ones.

We advise you to use the Kiwili stopwatch.

2.  Save on your software: use free or inexpensive tools!

Rather than using your budget to pay for a suite of paid software, prefer to use free tools . We invite you to consult our list of free tools in the article dedicated to this subject. Do not hesitate to test Kiwili , the all-in-one management solution : fourteen trial days are offered for each subscription, and there is also a free lifetime plan.

3.  Automate or delegate your non-billable tasks to an expert: use a management tool and outsource administrative tasks

We advise you to automate your processes with a management tool like Kiwili . Indeed, it will allow you to follow your expenses in real time , to keep your accounts well and therefore to work more efficiently .

Also call on an accountant, especially for the administrative and tax aspects (such as filing the articles of association, paying your taxes, preparing your balance sheet, etc.). It will help you avoid missing out on the deductions to which your business is entitled and avoid errors and penalties for taxes and duties.

Finally, there are also virtual assistants to whom you can entrust your non-billable tasks . Read our article about it.

To convince you, we invite you to read one of our articles on the subject and also an article to help you pay less tax.

4.  Save energy and reduce your running costs

We recently published a post on this subject: being eco -responsible saves money! We advise you, among other things, to unplug the appliances you are not using, to recycle as much as possible and to establish a “ zero waste ” mode of operation . Finally, try to buy low-power equipment . You can also try to negotiate regularly with our providers and suppliers of electricity, internet, etc. and thus reduce your business expenses.

5.  Hire interns and hire retirees

Indeed, interns are most often unpaid , and if they are, it is only very little. Another advantage is that they are motivated because they want to gain experience , have not yet acquired bad habits and are freshly trained . You can then entrust them with fairly simple missions , such as writing articles.

As for retirees , you can call on them for more comprehensive support . support, help with strategy, various advice, because they have many years of expertise behind them.

6.   Do social media marketing like Facebook or Twitter

As an entrepreneur, you surely do not have the means to set up marketing actions and paid advertising . Effectively use social networks as a marketing strategy and create a website to increase your visibility and thus promote your business.

7.   Barter and trade your services

As an SME, you can create partnerships with other SMEs (which are not your competitors of course). You could thus mutually reduce your business expenses by, for example, offering packages combining your product/service with those of your SME partner. Visit the site OneWorldBarter website to find exchange opportunities between SMEs.

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