78 Ways for Your Small Business to Save Money in this Economy

With the economy struggling, every business is trying to cut costs to make ends meet. Small businesses, which have fewer resources, especially feel the burn.

Not to fear. We’ve come up with a mega-list of ways to trim the fat off your enterprise so you don’t become a casualty of the latest economic downturn.

Technology

1. Go green! Energy-efficient technology will save you money over the life span of your computers, phone systems and other tech tools. There are often tax benefits to green technology, too. Not to mention it'll help out the environment.
2. Switch to open-source software. An open-source solution isn't the scary, "You're on your own!" proposition that larger software providers lead you to believe. Open-source software costs a fraction of the price as commercial products while still offering all, if not more, of the features.
3. Consider a smaller ISP. If you don’t have a big-business budget, smaller ISPs offer good value for their cost. Check out The List to compare prices.
4. Check out VoIP. VOIP is basically a phone service that uses the Internet. Many small businesses are opting for this cheaper alternative that can save them up to 60% over their traditional telecom costs.
5. Get a cheaper business phone service. Try a hosted PBX system, like Virtual PBX. Unlike a standard PBX, there is no hardware or software to buy or maintain, so costs start low and stay low.
6. Switch from a merchant account to an online payment service like Paypal. Say goodbye to statement fees and monthly fees. These services, however, do have a higher "per transaction" cost, so do some number crunching to see if making a switch will really save you money.
7. Reduce the number of phone lines. You could accomplish this simply by configuring office PCs to send and receive faxes. The Windows XP operating system and Small Business Server both make it easy to set up fax services.
8. Look for cheap or free web hosting. Check out this list of free Web space or read the reviews of hosts at Web Hosting Unleashed to see which providers have saved businesses money.
9. Buy recycled printer cartridges. Printer ink is one of the most expensive liquids on the planet. Much of it is margin, so find low-cost sources.
10. Reassess your phone plan. Even if you don't switch to VoIP, you can get service for cents per minute depending on your call volume.
11. Eliminate unnecessary lighting. Install motion detectors to control lighting in frequently unoccupied areas, such as restrooms and copy rooms.
12. Turn off equipment when it's not being used. This can reduce energy consumption by 25 percent; turning off the computers at the end of the day can save an additional 50 percent.
13. Lighten up. Dark walls require more power to produce the same amount of light.If possible, repaint your walls or lighten up your office space with wall hangings to reduce the amount of energy you use.
14. Time yourself. Install timers on outdoor lighting systems so they only operate from dusk to dawn.
15. If appropriate, use laptop computers. These portable computing machines consume 90 percent less energy than standard desktop computers.
16. Stop paying for software. Visit sites like Download.com to try hundreds of software products for free through trial downloads, freeware and limited versions. Also check manufacturers' Web sites for free trial downloads.
17. Do it online. Do all of your sales calls need to be in person? Internet-based technologies like Web conferencing and tools like Microsoft Office Live Meeting let you make online presentations to customers.
18. Share printers. If you purchase and maintain multiple printers at your office, you could save money by setting up a network that allows employees to share devices. Microsoft Windows Small Business Server 2003 is an easy-to-use and easy-to-operate server solution that allows you to share printers and create a more secure and productive computing environment.
    
    

Overhead

19. Reduce your variable expenses. Variable expenses change depending on your consumption of a good or service. They can add up, so see where you can regulate or scrap spending all together.
20. Do house cleaning on your weekly unneeded expenses. If you’re spending $50 a week on pizza for the office, you might want to consider brown bagging it.
21. Get a freelancer. Don’t let Larry in accounting eat up your electricity as he checks his fantasy football league stats. Hire freelancers, consultants or contractors to work for you from home.
22. Keep a close watch on energy consumption. Set your thermostats to a lower temperature, turn off all appliances when they're not in-use and encourage staff to shut down their computers when they're out of the office.
23. Sublet office space. You’ll always need to pay rent, regardless of the economy. But try to avoid any additional bills and contracts that will come with having your own office. Subletting is a great way to accomplish this.
24. Keep it in the family. Got kids? Hire them! You’ll get cheap help, your kid will learn responsibility and you may get some tax breaks, too.
25. Hire college students or interns for credit. An internship program is a win-win situation for your business. You get bright, young and ambitious employees to do your dirty work for little or no pay.
    
    

Office Items and Office Space

26. Take advantage of member rewards. Maximize your rewards points by double-dipping on programs for many of your office and electronics purchases. You can get points from your credit card provider as well as stores like Best Buy.
27. Plan shipping or mailings. You can schedule your shipping, mailings or deliveries to take advantage of bulk transactions.
28. Don't pay retail. Get purchase orders at trade shows, buy wholesale or even check out the local offerings on Craigslist to save big bucks on office essentials.
    
29. Eliminate unnecessary paper waste. Implement paper-reducing strategies such as double-sided printing and reusing paper. You'll save some trees, too!
    
30. Barter. Thought the days of trade were over? Think again. You can now exchange countless number of goods and services online on sites like Barter.net.
31. Free form it. Don't waste time and resources finding writers to produce forms for your business. Search online for free forms you can download and print. Entrepreneur.com specifically has ones for small businesses.
32. Buy used equipment. One person's trash is another guy's treasure, right? Sites like Capasset.com sell used computer equipment and copiers.
33. Check out going-out-of-business sales. You're business isn't going to tank because you're reading this article. But other companies are bound to fail during this recession. Update your business's digs by capitalizing on the misfortune of others.
34. Get creative and recycle. Refurbish old treasures with ideas from sites like Suite 101.com.
35. Opt for industrial space over commercial office space. True, you won't be in the trendiest neighbor...