Coming up with the fund for a start-up can be very difficult. Even if you do get funding you might still find that your budget is strained. If that is the case, consider sharing business costs with other small businesses. Aspects of a business that can be shared with another company include:
- Office space. If you’re looking to rent an office space, contact a broker. Ask if they know of any offices that are available to share. Sharing an office is much more cost-effective than renting your own. On that same note, if you currently rent an office but have extra space inform brokers that you are interested in subletting.
- Office supplies and equipment. If there are multiple offices working in one space, it is a good idea to invest in some good office equipment. Get a high-quality community photocopier instead of several, cheaper personal photocopiers. It is also smart to buy bulk office supplies together at a reduced rate.
- Share support staff. One office building doesn’t need four different secretaries or accountants. Share support staff and save money on salaries.
- Printing costs. Form a consortium with other small businesses and approach a printing supplier. With the large amount of business they are recieving, they are likely to offer their printing services at a reduced rate.
To determine if sharing business costs is right for your company, contact the Winflow Financial Group.