With Covid-19 still on everyone’s mind, here is how you could be saving extra on your office overheads.
Expenses have been skyrocketing all over the globe. However, ever since the significant supply shortages of 2021, we seem to have lost some footing in affordable goods and services. Some have chosen to assuage this by keeping their SMEs remote working only, and others are desperately seeking ways to reduce the cost of office work.
If you fall into the latter category, here are some quick, straightforward ways that you can shave off overhead costs and become the hero of the office Christmas party.
Sound Advice for Reducing Office Overheads
Here are some ways to take the maintenance costs of office space down a notch.
1 – Consider Sensors
Adding sensors for HVAC systems will allow you to keep a closer eye on the heating and cooling in your office building. There is a small initial outset fee, but afterward, it saves you every time the HVAC unit is used. If the sensors save you five cents every time they are used, imagine the accumulated reduction in overhead costs over the entirety of winter.
2 – Extra Space
If your office is your building, how much space do you need? Is there a possibility that you could free up an area to rent out to another firm? There are lots of benefits to co-working. For one thing, you see rental income, which can help pay off the mortgage. For another, you can then charge a percentage share of things like internet, photocopier billing and maintenance, lighting, heating, and other things. Even renting a single room is better than paying for the whole building yourself.
3 – Downsizing
This is probably the most obvious thing to do if you are bleeding money into overheads, but downsizing your operation and your building can both save you a considerable cash sum that could keep you in business. It is a difficult choice to make, and nobody wants to have to make it, but if the option is downsizing your operation or closing up shop for good, it’s the best of two evils.
4 – Outsourcing
Although many of us love to operate entirely within our grounds, outsourcing can cut costs and expenditure down. For example, outsourcing shipping to a specialist company, outsourcing your IT department, or even hiring a contractor to handle your calls – all can help save on costs. However, be wary that you aren’t outsourcing too far away. If you are costing air miles or increasing your carbon footprint, your corporate green policy goals can get in the way.
5 – Checking Suppliers
It may be that you are spending too much on supplies, it may be that recent circumstances have pushed supply costs higher, and it may be that you are paying too little for your supplies and using twice as much. Beware false economy. Checking in with suppliers to see if they can do you a deal to retain your custom is a good idea. You could also shop around. Nothing is stopping you from switching out.
Reducing Expenditure Starts with You
However, you do it; being proactive is the only way to ensure your business survives.
