How to Cut Business Expenses instead Fire an Employee

Down sizing is a very common practice amongst the companies when overcoming extra ordinary losses. But there are still some ways that be adopted and great companies who understand the importance of skill staff, look for them to cut their cost. Here are some of the examples where cost can be reduced.

• Management travel expenses – Travel in economic class instead of business
• Staff fuel and maintenance cost
• Stationary and paper
• Communication cost – Use Skype, Google Video Chat and other ways to communicate with management, company representatives in other areas and customers
• Send invoices on PDF instead of paper
• Take maximum advantage of daylight instead of using electricity in office
• Use maximum strengths and potential of machines and staff
• Cut advertisement cost and take advantages of technology i.e. use YouTube, Facebook, Twitter, Flicker along with local marketing ideas such as printing of Personalised Hoodies etc. for grabbing leads.

Do you have more ideas for saving business cost? Share with the members.