How to set your small business up for less

Starting a new small business is a very exciting prospect, with lots of potential for future success to think about. If you’re currently in the process of launching your top business idea, then you are bound to be full of hope and maybe a little bit of fear about what the future holds.

For new small business owners, keeping initial costs down is a huge factor, which will contribute to their current and future success rates. Spending as little as possible whilst ensuring that you make the right investments is key to keeping your business afloat during the early days. It’s likely that office and business equipment is going to be one of your biggest expenses, so here’s what you can do to drive the cost down.

Tip #1. Hunt for deals

Taking the time to search for deals on the equipment that you need for your company will certainly pay off. When it comes to equipment such as computers, printers, and other electricals, it’s worth spending some time comparing what’s available on deals sites, along with looking at the best deals on selling sites such as Amazon to see if you can snap up what you need for less.

Tip #2. Buy wholesale

If there is equipment that you’re going to need a lot of, such as paper, pens, paper clips, staples and other office essentials, then buying in bulk at wholesale prices is going to save you a lot more money in the long run. Whilst you may feel that you are being presumptuous by assuming that all these supplies are definitely going to be needed, positive thinking is the way forward in business! Don’t forget that even if the worst happens, you can always sell your supplies on to other companies.

Tip #3. Take advantage of business rates

Many companies will offer deals and prices that are exclusive to business owners, and you can make some great savings by taking advantage of them. For example, if you plan to have a business smartphone, setting up a business rather than a personal account with the network provider can be one of the best ways to get a better smartphone deal for less.

Tip #4. Buy second hand

Lastly, don’t shy away from buying second-hand equipment for your company. You can find many great bargains by choosing to buy your equipment from companies that are shutting down, for example, and need to sell as much as they can to make back money as quickly as possible. When it comes to technology items, you can find some awesome deals on sites such as eBay or Gumtree, with many people selling perfectly usable gadgets in great condition, simply because they are upgrading. Refurbished electronics are also another good option to consider; these are usually offered with a guarantee if the manufacturer conducted the refurbishment.

Setting up your new small business with all the equipment that you need doesn’t have to be a costly endeavour. If you have any further tips that you’d like to share, then we’d love to hear from you in the comments.