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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.