Starting a business is a daunting experience, especially when it comes to finances. Your business plan is in place and you confident that your idea will turn a profit but that doesn’t make the initial costings any easier. As the saying goes, you have to spend money to make money and that’s certainly the case when it comes to setting up a business. Whilst many financial obligations are a necessity, there are clever ways of reducing costs whilst still achieving your startup goals.
1. Take Advantage of Template Website Platforms
Hiring a graphic designer and web developer to build your dream website can be costly so take advantage of the multiple template platforms on offer to achieve your goal. Most website builders offer a monthly subscription to host your domain and you don’t have to be a computer genius to create a professional site.
Platforms such as
2. Create a Home Office
Finding the right office space is another essential requirement when starting up a business but commercial lettings can take a huge chunk out of your budget. Finding a way to lowering these costs will help you turn a profit sooner and keep your company in good stead during quieter months of the year.
Depending on how many employees you’re going to have, consider setting up a home office to lower costs. Whether it’s a corner desk in your kitchen or a whole dedicated study room, you’ll need to make sure it’s a productive space with all the necessary equipment, electrics, and technology you need to keep your business functioning. You could even consider converting a garden shed into a separate office space outside of your home, Pascoe’s Gas, Water & Electrical services would be able to install all the necessary energy points you need.
3. Use Remote Workers
Take advantage of how well people are now connected online and seek out employees that are remote workers. You won’t need to provide office space for them as matters of business will be dealt with remotely via Google Meet and Skype Calls. One of project administration can be sourced via websites such as Upwork and People Per Hour, giving you the opportunity to avoid employing unnecessary amounts of staff.
4. Leverage Social Media Marketing
Avoid costly marketing campaigns to promote your business and look to social media to spread the word free of charge. Create unique and exciting content that your target audience will want to engage with, and your profile and awareness for your brand will increase organically. There’s the option to pay for sponsored advertisement if you want to give your profile an initial boost, but this really isn’t always necessary.
