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3 Tips To Save Money For Your Small Business

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On the way to becoming self-employed, most business founders find themselves confronted with the same problem: Despite great motivation and untiring commitment, the budget is quite manageable, especially at the beginning.

This applies in particular to large items such as rent, office equipment or personnel costs. We’ve put together seven practical tips to help you save money in the starting phase.

1. Office Space: The Magic Word Is Sharing

Prestigious offices with cool start-up character – that’s probably what almost every founder wants. But only very few of them have the necessary small change right from the start to be able to afford the monthly rent for rooms in an excellent location.

For this reason, many business founders and freelancers like to make use of the co-working spaces specifically designed for this target group.

Mostly centrally located and conveniently located, these areas offer flexible and inexpensive rental models. Both individual and open-plan offices, meeting rooms, a professional infrastructure and, in some cases, secretarial services can be rented on a daily or hourly basis.

The significant advantage: In co-working spaces, you are guaranteed to meet other participants for exchange and networking, and often there are in-house events especially for founders. Plus, you are not bound directly to a – mostly long-term – rental agreement.

2. Start-up Packages For Internet Consumers

As far as the infrastructure of a start-up is concerned, a fast and secure Internet connection is essential today. Since the business customer prices of the usual offers are gladly times somewhat more expensive, many founders set on the more favorable private tariffs. You can also use the free small business marketing tools.

However, they quickly reach their limits when it comes to performance and must not be used for business purposes. This is why many telecommunications providers offer special start-up packages that save you a lot of money. These often include free test months and then a reasonable flat rate for Internet and telephone.

Also, it is usually possible to terminate the contract in the event of a business cessation, i. e. the agreement no longer binds the founder.

3. Finding And Involving Helpers Quickly

A big issue in start-ups is undoubtedly the personnel. Many young companies start with one or two employees – the founders themselves. In the beginning, it goes without saying that you take on all the tasks for your dream of owning your own company.

But if the company wants to grow, it needs to be strengthened quickly – especially to promptly give up more straightforward tasks (which still have to be done) and concentrate on the essentials.

To save costs, startups like to rely on student assistants or mini-jobbers who take on specific areas of work within the framework of a minor job.

The search for personnel can save money even with simple means: If conventional job exchanges and professional headhunters are too expensive, you can access the job agency’s portal with almost 2.7 million job profiles, social networks such as XING or LinkedIn and, of course, personal contacts free of charge.

Numerous start-ups and start-up portals have also focused on the topic of the job board. Here you will find 11 alternative contact points that can be effective for start-ups looking for employees.

Author Bio:

Chris is a Digital Media Strategy Consultant at StrategyBeam, where he helps small business owners and nonprofits reach their goals through Internet marketing. He loves learning about upcoming business trends and helping companies grow their business and reach their goals!

Beatrice Lipson

The author Beatrice Lipson