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3 Money-savvy Tips for Small Business Owners

As a small business owner, you’re always looking for ways to save money and improve productivity. In today’s business world, entrepreneurs must be flexible and frugal to stay ahead of their competition. Here are a few money-savvy tips any small business owner should consider:

Go green

Is your business environmentally friendly? Whether you switch to a paperless cloud system, install energy-efficient light bulbs, or use reusable packaging materials, you can save money and reduce your company’s global footprint by making small changes. Many business owners are going green by allowing employees to work remotely from a virtual workspace, which also saves on office rent, utility, and equipment fees.

Plan for tax season

In the midst of running your small business, don’t forget to plan ahead for tax season. Set aside a portion of your business’s revenue each month for your end-of-year tax payment to avoid missing the payment and incurring late fees. It’s also a good idea to check if your small business qualifies for tax deductions, which may save you even more money. 

Outsource key tasks to a third-party

Businesses of all sizes can benefit from the convenience and cost-savings of outsourcing. If your small business is struggling to keep up with tasks such as product assembly, consider outsourcing projects to an experienced and professional third-party provider. At Ohio Valley Goodwill Industries, our large, diverse labor pool has the skill to complete product assembly projects of any size. Partnering with Ohio Valley Goodwill Industries also supports our greater mission to provide meaningful employment to individuals with disabilities in our community. Contact us today to learn more about our services and receive a free tour of our facilities.