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Images courtesy of [jannoon028][kromkrathog][master isolated images][photostock][stockimages] / FreeDigitalPhotos.net

Every cent saved is every cent earned! Knowing the difference between overly thrifty and sensible and practising common sense and creativity, you will be able to avoid struggles and survive in any economic time.

Review your operating expenses regularly and find ways to lower or eliminate them such as asking for discounts, changing service providers/plans, buying in bulk and reduce usage/waste, etc. You can also explore opportunities for expense sharing such as subletting your office space, exchanging services/products with others and cross promoting similar businesses. To lower labour costs, consider hire students and interns.

If you constantly look for ways to improve your business and optimize your staff’s productivity, you will often find that your expenses decrease as well.

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