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Thursday, 16 April 2009

Cut Costs, Not Quality

Many Small Businesses are turning the recession to their advantage. According to Direct Line for Business more than 25% of their businesses are confident their business will expand throughout 2009. The hard-working attitude and refusal to give in to circumstances is driving small business owners to come up with new, innovative ideas to stay afloat. These include; picking up business from failed competitors, diversifying in terms of products and services offered and identifying new cost-saving schemes.

An Estate Agent in Hertfordshire has felt the pinch, but outlasted 5 competitors so far. One way of saving money which they found was;

'We have surrendered the lease on our old offices and we have managed to negotiate a new lease in a more central office in Bishop's Stortford, which is rent-free for the first 18 months. In return for the rent-free period we only have to redecorate the office and maintain it.'

This should save them around £1,200 a month. An excellent way to reduce costs and hopefully the new office location will attract new customers.

Taking the time to look for opportunities such as these can be very worth while as in the long run it can save you a lot of money. Another great way to reduce costs is to employ student freelancers for specific jobs, as opposed to those from agencies who are significantly more expensive and do not necessarily provide a better service. Have a look on www.studentgems.com to see the types of jobs students can complete for you.

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