As a business owner or manager, chances are you’re always looking to expand your profit margins. The answer isn’t always selling more products or services, although that’s a fine way, too. But by cutting back on unnecessary things you’re currently spending money on, you’ll have fewer expenses, which also translates to more profit. Examine what you can cut back on in your business without compromising safety.
Bring In Fire Assessors
For a small one-time fee at the onset, you can save money in the long run. For example, invite professionals in to perform a fire risk assessment on your business’ properties. The assessors will make sure your properties are up to code and that you reduce your risk of fires and fire damage.
Professional, qualified assessors will also tell you when contracts you may have already made with companies that provide things such as fire extinguishers and other fire safety products are unnecessary. You can cut out fees to these services that offer superfluous protection, all while making sure your business meets regulations and won’t incur fines from the government.
Prevent IT Problems
Most of a business’ IT budget is spent on the hours or days it takes IT professionals to fix problems that have already occurred to the business’ network or equipment. If you invest a little extra money from the onset to make sure that your network is as secure and as protected as possible, you won’t have to spend much more in the event of malware infestation. Back up your data on a frequent basis, too; another common IT expense lost data recovery.
Rather than spending a fortune on providing computers, tablets and other technical equipment to your employees, allow them to “BYOD”, or “bring your own devices”. Not only does this save you money on purchasing new devices, but it encourages productivity, too, since employees can take their equipment back home and continue working as necessary. Just be sure that an IT professional installs a secure business network that protects against any malware the devices may bring in to the system.
Office celebrations funded by the company can be a great way to celebrate the milestones in employee’s lives, but they can add up if they’re fully catered and include gifts. However, you don’t want to ignore your employees’ milestones completely. Instead, hold a celebration once a month and celebrate every birthday, anniversary, new baby or other accomplishment that occurs within that month at once.