Many new business owners think that there are a number of business expenses that are absolutely non-negotiable. They think that they must simply pay the rate that is asked for in order to benefit from the product or service and that is that. They are often wrong.
The fact of the matter is, that many more business expenses than we think are totally negotiable, including the following:
Office Supplies
If you think that the price of office supplies that is stated in the brochure or on the website is the price that you have to pay, you will always end up overspending on the stuff you need to run your office, from pencils to desk chairs.
The fact of the matter is, office supply companies want your business, so if you are willing to call them up and ask for a better price, if you are putting in a large enough order, chances are they will accommodate you and allow you to deduct a percentage of the total from your final bill. Why pay more for stationery when you really don’t need to?
Business Insurance
If you are smart, then you will have a wide range of insurance products to cover your business for everything from accidental damage to serious injury, and of course litigation. You might think that you need to pay a high price for this insurance, but with the help of the best business insurance brokers, you can often negotiate a much better deal with insurance companies based on the number of insurance products you require. So, never settle for the first quote and make an effort to renegotiate terms.
Taxes
Many people who are new to running a small business end up being overly conservative when it comes to doing their tax returns. They end up missing out on lots of deductibles or paying tax for things that are not actually taxable, and this can end up costing them dearly. By paying for the services of a good accountant, you can ensure that you never pay over the odds for taxes, whether by ensuring that every deductible is found or because tax accountants are often good at finding legal loopholes., and you can ensure that you keep as much of your company’s profits as possible.
Utilities
Surely your business utilities are non-negotiable, right? Wrong. It is totally possible to cut the cost of a range of utilities that will free up your cash flow significantly.
For example, if you run business phones, you can save money by switching to an internet phone service or if you use a lot of electricity, you can save money calling them up and asking for a better kWh rate for your business because you will still be putting a lot of custom their way. There is always a way to save if you really want to.
As you can see, many more of your business expenses are negotiable than you might have thought, so why not actually do some negotiating so you can save money and boost your bottom line?
Image Credits: Chris Pastrick
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