Studies show that the economy in Oxford has become limited by unaffordable housing and a lack of productive office space. Experts say that new investment in the area is essential if business and productivity are to grow in Oxford and the surrounding area. Individual businesses in Oxford have also been finding it difficult to create forward momentum and strong growth. There are many ways small businesses can cut costs and improve productivity – take a look at these ideas for a start.
Recycle and Reuse Equipment
Don’t create waste and costs by always buying new – look for ways you can creatively use items in a different way in order to save money and reduce waste. There are also schemes whereby you can get money for unwanted items. This will help your green credentials, too.
Use Technology to Reduce Travel Costs
Try to save money on the cost of traveling to meet with clients by using a reliable communications package with video conferencing. This will also save time, which will help to save money in the long run.
Reduce Costs by Leasing Office Equipment
Reduce your cash outlay by using an office equipment rental firm. Photocopier leasing Oxford companies help to preserve your cash flow while delivering new, advanced items like printers and photocopiers to help your business run more smoothly.
Share Resources and Expertise
Look for other small or medium sized businesses to share physically resources and skills. Good networking among the local business community should help you find ways where you can team up with others to save money and also to boost expertise and productivity.
Don’t Waste Energy
Keep your energy bills low by looking for the best tariff and then making sure you are only using low-energy devices and keeping items switched off when not in use. Make the best use of outdoor light with better windows and blinds, paint walls a lighter colour to maximise natural light in the building, and install switches in corridors and bathrooms that turn lights off and on when people enter. Choosing energy efficient technology also helps to prolong the life of the equipment.
Make Mailings More Cost Effective
Plan when to deliver postal mailings in order to make the marketing as effective as possible. Where possible, plan marketing around digital channels to avoid the expense of direct mail.
Buy Bulk and Negotiate Discounts
Negotiate better terms with suppliers in return for long-term orders or bulk orders. You can quickly cut costs and boost productivity when you find a reliable supplier.
Choose More Economical Business Premises
Shop around to see if there is a better, more cost effective location for your business in Oxford. If your needs have changed, look for new premises rather than working with what you already have.