If you’re looking to trim your company’s outgoings any way you can you’re in luck, as this week Axis Telecoms lets you know how to save money on office supplies.
Where Can You Make Major Savings?
Because we strive to deliver high quality, competitively priced energy and telecoms services to SMEs throughout the UK, Axis Telecoms understands why you are looking to trim costs anywhere you can.
Small businesses only have a limited flow of capital to work with, which means they need to keep costs down if they want to facilitate the expansion they need to increase their profit. If you look at all areas of your budget, you soon see that there’s one where you can make significant savings; office supplies.
Five Tips to Help You Save Money on Office Supplies
Yes, you need office supplies to ensure your business runs smoothly, but that doesn’t mean you should let the cost deplete your bottom line. Use the following five tips to reduce the cost of office supplies…
Turn into an Allowable Expense: A few weeks ago, we blogged about the fact that the government allows you to deduct certain allowable expenses from your tax. Stationary costs and general office supplies fall under the remit of allowable expenses. If you are self-employed, you can subtract the cost of office supplies from your taxable profit and save money.
Do Your Research: Do you really need to pay top dollar for a printer cartridge? No, you could probably find it cheaper and pay less somewhere else. However, you’re never going to be able to capitalise on a lower price if you don’t do your research and look for the cheapest providers of office supplies.
Buy at the Right Time: Major stationary providers like Staples often put special deals on at certain times i.e. late August, to entice certain customers i.e. the back to school crowd. Capitalise on these deals and buy your office supplies in bulk to reduce the effect they have on your outgoings.
Survey Your Employees: Don’t pay for office supplies you don’t need. Survey your employees and ask them what they need to do their jobs. That way, you eliminate excess and reduce the cost of office supplies.
Reuse Supplies: In other words, get more for your money. Do you have folders that are no longer being used? If so, reuse them to store new documents. That way, you get more value for money on your office supplies.
Diverting Vital Capital Away from Your Company
You’d be surprised how the cost of office supplies can build up. If you let it climb without keeping it in check, that cost can divert vital capital and damage your company. That’s why we’d suggest you always find ways to save money on your office supplies.