Cost Saving Strategies To Adopt For Your Business Space
Controlling business costs is one of the most compelling challenges faced by businesses as expenses keep increasing. Knowing how to control operating expenses can help some to grow, stay afloat or unfortunately, fail and cease operations.
For one, you can start with major recurring expenditures like your workspace rental. You can consider lowering costs by renting a unit from one of the cheapest self storages in Singapore to set up your working space. They are fitted with basic facilities which are necessary to support an optimal working environment.
Cutting down costs require subtlety and balance as it should not reduce the efficiency or productivity of a space. You can still find small ways to optimise your working space. Read our tips below on how you can reduce your business costs and improve your bottom line.
Use cost-friendly, energy-saving resources
Electric bills can balloon quickly especially in large spaces. Find opportunities to use energy-saving products or green technologies around the office, which are designed to lessen carbon imprint and spending as well. Paper usage can be cut down by reusing scrap paper, such as misprints or half-used printouts, for memos or internal documents. Non-efficient products like incandescent light bulbs can be swapped with cost-effective energy-efficient sources such as LED bulbs.
There are self-storages in Singapore that provide work and with all-inclusive rental rates. Costs for amenities such as lights and aircon are included so you will not face unpredictable utilities fee, allowing you to save expenses and pay a fixed rental rate every month.
Outsource some tasks
Outsourcing is a great way to bring specialised talent onboard for certain specific tasks. Instead of employing a full-time video editor, for example, you can outsource this work to a freelancer online through freelance websites where you can find curated talented across a number of disciplines. If you find a great freelancer, you can continue hiring them for future projects which will save you time and money in the long-term. This will also save some space in work place to accommodate additional hires, so it wouldn’t pose a problem if you’re already looking at self storages in Singapore for a small office for rent.
Lower office space costs
Home offices are not always ideal and practical, and there are plenty of benefits to having your own workspace rental to run your business. However, it is important to avoid underutilising an office space which can cost money in energy use, overheads, and rental. Carefully consider the space you need to run your business efficiently and think about whether you will need extra space for storage without overestimating your office size requirements. The workspace you rent should adequately accommodate the current size of your team and any expansions in the short-term future.
The act of cost-saving is not about zero-spending as frugality should be within reason. Managing finances should include wise spending to get the most value for the business and making smart investments that will enhance efficiency and productivity while saving more money.
Do you know that there are additional perks that can come with your work space rental? At Work+Store, we organise events and provide free event space exclusively for our tenants to host any type of occasion from marketplaces to corporate events. Join us at our Family Summer Fair at Old Firestation to be held on Sat, 29thJune 2019, jointly hosted by LHN Group and Work+Store. The event will feature a family-themed car boot sale on the last weekend of the June holidays, perfect to bring the whole family down for some fun. There will also be a food donation drive and discounts when you dine in at Spruce.
As one of the cheapest self-storages in Singapore, you can find affordable workspaces and storage rooms for rent at Work+Store. We have 10 locations islandwide namely Pasir Panjang, Aljunied, Tampines, 72 Eunos, 100 Eunos, Ang Mo Kio, Bukit Merah, Kallang, Bartley and Upper Thomson. For our Aljunied location, we are having a limited promotion where you can enjoy up to 6 months rent-free. Terms and conditions apply.
Our work spaces start from 88 sqft with flexible lease terms and all-inclusive rates so you can find the right unit size that’s ideal for your business without incurring significant costs on utilities and maintenance. You can work in a conducive environment fitted with aircon, lights, and power sockets as well as 24/7 card access and CCTV surveillance. Under our parent company, LHN Group, there are bigger unit rentals for office and warehouse in commercial and industrial spaces across 38 properties in Singapore. As our tenants, you can enjoy free event space in our properties, providing more value for your workspace rental.
If you wish to find out more about Work+Store and our other storage options, feel free to contact us at +65 6578 9966 or WhatsApp us at (65) 8345 9966. Alternatively, you can email us at firstname.lastname@example.org for more information!