6 Money Saving Tips When Starting a Business in 2019

Have you had enough of your job? Do you have a great idea for a business? Starting your own business is not easy and one of the biggest concerns for most people in the beginning stages is the money. We are taking you through our top tips on how you can conserve your cash flow and keep your business profitable when starting your own business in 2019.

Running Your Business from Home

One of the biggest monthly expenses that many people tend to have is the cost of renting out office space. This can cost you hundreds, if not thousands of pounds every month which quickly eats away into your profits. When starting up a business, the most affordable way to do so is to run it from home. Running your business from home only needs to be a starting point and you can always upgrade to an office space at a later date once you have hired more staff.

Hiring People Part-Time or Freelance

Continuing on from the last point about hiring more staff, when starting your own business, it is best to start on your own but if you need other people to help you, we would recommend hiring people part-time or on a freelance basis as this will save you lots of money on things such as insurance, pensions and allowances.

Get Used Equipment

When starting a new business, the overhead costs can be huge and so a good idea to save you money is to buy used equipment instead of buying everything brand new. This will work just as well and will help you to get your business off the ground and running before investing in new technology.

Free Software

If you are going to be starting a business in 2019, one of the great things about doing so in this age is that there is plenty of free and amazing technology for you to use. While software can be very expensive, there are usually lots of free options available or you could even see if there are any free trials. This is a great way to save some cash and put it towards investing in your business.

Lease a Van

If you are starting up your own business that requires you to visit homes and have lots of tools then you will have to think about getting a van. Vans are expensive and for most people this is a cost that many won’t be able to afford if buying outright. One popular option worth considering for your business is leasing one of the VW Transporter Vans which come in a range of different models and can always be found in stock. Leasing usually has a lower monthly cost and so you can ultimately save money.

Negotiate for Discounts

If you want to get the most for your money, you will need to learn how to be a good negotiator. You will want to try and get the best possible price from vendors, so that you can make as high a margin as you possibly can when you go on to sell.