business budgeting
Business

Business Budgeting – How You Can Save Money On Supplies

When it comes to keeping a business ticking along, it can take a village. There is no silver bullet to keeping your business running at its peak while saving money in the process, but there are ways to save money on supplies. If you want to put in place sustainable changes that will contribute to your bottom line, make these tweaks today.

Machines and devices

Machines and devices are not commonly your cheapest investment in the office, but they do make the biggest impact. So it stands to reason that you should treat your units in the best care to maintain longevity and the current standard to which they produce. Your printer is a great place to start, as it touches each employee and department and can cause havoc when it becomes unavailable. Significantly reduce the number of printer services you need by only using quality HP printer cartridges. Selecting a more reputable supplier for your printer needs will take care of your unit overall, and reduce your spend in maintenance care.

Save on training

Training is a non-stop cycle, wherein each employee stands to learn more, and better their overall performance. The bad news? It can be a costly exercise. The programs, materials, and outsourced training opportunities can actually be replicated within your own office – at a fraction of the price. Lead onsite training opportunities and materials with onsite training facilitated by your senior team. This will promote sustainable change and position you as an attractive employer – without having to fork out the spend. Rather than enrolling your team in pricey training off site, look within and see what can be offered by your expert employees and business partners.

Do one thing, and do it right

Does your work tea room have a random selection of tea, coffee, biscuits.. and anything else that ends up in there? These items, while appreciated, do cost money and they likely aren’t even causing the splash they intended to. Pick one area that you will excel at, and throw your reduced budget to only that. This may mean you have a large selection of fresh fruits for your team, or a Nespresso machine with accompanying pods. Pick one, and present plenty of it. Don’t try and do it all, because the budget can’t extend to having it all. Let your employees marvel at the huge selection of refreshments you have chosen, and enjoy the savings you have made on those supplies.

Standardise your stationary

Bless the poor person who offers to do the next stationary order. The second the question is asked, everyone comes out of the woodwork to express their need for stationary items that are simply not needed. Set a standard in your workplace that each employee has access to a finite number of supplies each year, and anything outside of that can be purchased at the discretion of the employee. This will save money on supplies, and it will also reduce waste and unnecessary spending. It’s important that this is not seen as just money pinching, but rather a way to recycle and minimise waste.

Saving money on supplies can be a change you make only once, but see the benefits roll in for long after. Set benchmarks to keep you on track, and celebrate those milestones when you meet them. If it is an initiative shared by the greater team, you will find you get greater traction on your supplies saving measures.