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Saving Money for New Businesses

Kickstarter, the crowd funding venture launched in the USA just a few years ago, is to move into the UK market with a view to providing valuable funding to new businesses and innovators. The success of Kickstarter (itself a new business not so long ago) is mostly due to the imaginative way that funding can be raised but its reason for existing in the first place is simple: new businesses are expensive.

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Photo: http://upload.wikimedia.org/wikipedia/commons/f/f0/Money_closeup.jpg

But of course not everybody can raise funds from venture capitalists. For every Kickstarter or Dragon’s Den success story, there are thousands of others who have to do it on their own. So it makes sense to try and save money wherever you can.

Cutting corners should certainly be avoided. Starting a business by paying lower than average wages, skimping on health and safety or investing in shoddy source materials or services will put you on the wrong foot instantly. And there can’t have been many top businesses that started in this way.

So, how to save money – in the right way?

There are actually some ways for small business to save money by slashing unnecessary expenditures. One area that you can definitely save money is on your energy bill.

The media narrative when it comes to energy prices is that they are not only extortionate, but that they will continue to climb. This is such a well-worn track that many simply write off their energy bill as an unavoidably high expense. But there are companies who specialise in energy for small business starters and you would be foolish not to check them out.

So what’s involved? Well, you needn’t go as far as one Coventry based business who have rebranded themselves as a green energy business, all you need is to find the right tariff. You need an energy company who understand that starting a business (or indeed simply moving to new business premises) is hard enough without a huge energy bill.

There are tariffs which will discount you in the early days when your usage may not be anywhere close to full capacity. There are tariffs that will give you a low daily rate and flexible fixing options. These are tariffs that will give you one less thing to worry about.

Takeaway

Although you can discover ways to save money for your young business venture, the most important thing for you to do is take action. Plan for your money saving endeavour – starting from your utility expenses. Create a simple, step-by-step plan on how to achieve that, and be sure to launch your initiative as a new set of guidelines for your employees to follow.

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This article is one of the excellent contributions from small business owners, decision makers and professionals.

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