| During our boom years when profits were high, cutting | | | | 4. Business Lunches |
| costs was not an option for most businesses, in fact | | | | In many cultures the concept of a business lunch is |
| spending to ensure lower taxation meant many | | | | often the key to successful negotiations. A business |
| businesses developed bad spending habits. Habits that | | | | lunch, also was a fringe benefit for Managerial Staff |
| now could be the difference between pure survival, | | | | who entertained clients.Instead of entertaining in more |
| and more profits. | | | | costly Restaurants, head for 'niche' Restaurants that |
| Many large Companies often are unaware that | | | | offer deals on business lunch packages. This may |
| expenditure on small, mundane things actually is too | | | | impress potential clients or customers, who experience |
| high, because people tend to concentrate on larger | | | | a different type of dining, rather then the mainstream |
| business plans, and expenditures. This could mean, | | | | dining often offered by more upscale restaurants. |
| your business is leaking money, because the mundane | | | | 5. Training Costs |
| becomes an expense, that now eats into your | | | | Many businesses spend a large proportion of their |
| valuable income. Whilst many Companies may still | | | | income on staff training through traditional institutions. |
| focus on cutting back on larger items that, in truth could | | | | The Internet often has the same level of training |
| affect your level of service. | | | | resources available at the fraction of the |
| Here are some basic costs, many businesses ignore, | | | | cost.Downloading these materials, whilst an actual |
| that if cut could help save, without affecting your | | | | member of staff could help train the staff, in their own |
| service, and reliability: | | | | specialist field, could save your business thousands of |
| 1. Mobile Phone Costs | | | | dollars. |
| Staff who claim for mobile phone expenses, often use | | | | Self- Education could also be encouraged by your |
| different Mobile phone providers. This could mean that | | | | Company, as the wealth of free or inexpensive |
| your business calls, often cost 40- 50% more, simply | | | | resources expand with the growth of the internet. This |
| because internal mobile calls cost more to differing | | | | could be monitored internally, and become part of your |
| providers. | | | | businesses more innovative approach to training. |
| One easy solution to this expense, is to provide your | | | | 6. Overtime |
| employees with a sim card from one provider. Larger | | | | Overtime payments often become too costly for |
| Companies could negotiate a discount with these | | | | many Companies, instead offer a break from work |
| providers, that allow cheaper phone rates, that in the | | | | based on the overtime hours worked. This break could |
| long term save even more valuable dollars. | | | | coincide in a slow period of the working year, saving |
| 2. Paperless Offices | | | | your business overtime payments, and at the same |
| Paper is going to rise in price, as Green Policies may | | | | time offering an incentive of extra days off to your |
| be implemented by our Governments, and this could | | | | employees. |
| include imports of less expensive printed material. | | | | 7. Electric Costs |
| The concept of a paperless office is not new, but | | | | As our old Economy turns into the New one, Electric |
| many companies have not fully implemented this | | | | costs are set to rise as we start to use more greener |
| idea.Internally Offices could use recycled paper or | | | | energy. Employee habits like recharging mobiles, could |
| switch to the online use of computer based programs, | | | | actually be changed by simply investing in multi- phone |
| like windows word or excel, rather then copy or print | | | | solar re-chargers. Solar Panels could save you |
| paper. The paperless Office could work internally, | | | | thousands on paying traditional hot water bills, whilst |
| whilst clients become more ecologically aware, may | | | | heating and air-conditioning expenses could be saved |
| see your Company in a positive light if you use | | | | by investigating more modern ideas on how to |
| recycled paper externally. | | | | naturally heat, or cool your office. |
| 3. Travel Costs | | | | These are simple, tried and tested ideas that many |
| Travel costs could be cut down by the use of online | | | | Companies Internationally have implemented |
| meetings, unless it is really necessary to meet | | | | successfully to save costs. They may not be very |
| someone face to face. Companies could also | | | | innovative, but often could release valuable cash |
| encourage car sharing between employees, and look | | | | resources to invest in more profitable areas of your |
| at using 'alternative' forms of transport to cut costs. | | | | business. |