Top Tips for saving money as a new business.
Starting a new business is never easy, business plans, forecasting and paperwork can have a real impact on the time you get to actually spend on getting your enterprise up and running. Selecting initial suppliers can be daunting, especially technology suppliers unless you happen to be Tim Berners-Lee or Bill Gates. If you’re not careful, and cost savvy, you can end up paying a fortune on things you don’t really need. This blog highlights how to save money with smart technology.
Flexible working conditions are one of the key reasons people give when leaving traditional employment and starting a new business. The freedom to work from home or a coffee shop can also save you considerable fixed costs, since you won’t be spending money on a work space.
New businesses might need somewhere appropriate to meet clients or find it hard to work from home. In either situation, most cities now have communal work spaces where you can book or rent desks or rooms by the hour, day, or weeks at a time. These are great options, because you can pay-as-you-go without managing typical overheads associated with office upkeep, wi-fi, etc.
Microsoft describe cloud as “the delivery of computing services – servers, storage, databases, networking, software, analytics, intelligence and more – over the Internet (“the cloud”) to offer faster innovation, flexible resources and economies of scale. You typically only pay for cloud services you use, helping lower your operating costs, run your infrastructure more efficiently and scale as your business needs change.” You probably already use cloud services in your personal life. If you store your photo’s in Google Photos or save contents from your phone in iCloud then you are using cloud services.
Why choose cloud services?
Advances in cloud technology have enabled small businesses and start ups to access and benefit from the same technology as large enterprises. By hosting your business services online, you immediately cut the cost of licensing and hardware maintenance. Furthermore, service agreements with your supplier mean that help is normally available if something goes wrong without anyone having to visit your home or office.
Cloud storage and phone systems offer both scalability and flexibility. You can take advantage of these benefits by working from anywhere you choose without worrying about accessing your files or phone storage, and the ability to collaborate and share documents with colleagues.
Using a cloud phone system
Voice is also available in the cloud now and is a great choice for startups and small businesses as the costs are often lower than traditional telephony and they are far more flexible. Choosing cloud means your calls are routed over the internet and can be routed to your desk or mobile phone, ensuring you never miss a client’s call. It’s also scalable, so you can start with one extension and add capacity as you bring on employees.
What’s more in 2025 BT will be shutting off landlines (ISDN and PTSN), meaning that traditional voice calls will no longer work. Now is the time to make the switch to VoIP, before the last-minute rush begins.
It’s difficult to predict the growth rate of a new business so it makes sense to choose a service which is flexible and scalable so it can grow with you. As cloud phone systems are predominantly a subscription-based service it means you can keep cash in your pocket and only pay for what you need. Important for any cash flow sensitive business.