Cut the Fat: Creative Ways to Cut Costs in the New Year

Small business owners always look for creative ways to save money throughout the year. A few dollars saved here and there can help the bottom line look a little better when evaluating finances at the end of the year. However, with the demands of your business, you may not feel like you have enough time in the day to look for ways to save money. Whether it’s making a quick call to your merchant service provider or cutting a couple of bills out completely, here are a few great ways you can save money and cut some fat in the new year. 


Many business owners are shocked when they tally up the amount they’ve paid on utilities and other bills throughout the year. Take a look at bills like your mobile phone, annual or monthly subscriptions, office supplies, payment systems and anything else your business uses. You may find some of these can be cancelled, or at the very least, amended to find a cheaper price. When it comes to small business payment options, there’s usually room to negotiate for lower fees. 


Investing in a quality business management software may cost you some money upfront, but the long-term savings are worth it. You could essentially eliminate the need for hiring an employee to take care of your finances or other business needs. Streamlining various aspects of your business will take some stress off of you as a business owner and put some money back in your pocket as well. 


One of the biggest complaints small business owners have are the fees they have to pay for their credit card payment systems. While it’s a necessity today to accept credit cards, it doesn’t mean you have to pay outrageous fees for every transaction. It’s always a good practice to call your merchant service provider at least once a year to ensure you are getting the best rate. Even less than 1% savings can translate into hundreds of dollars saved at the end of the year, depending on how much business volume you have. 

Precision Payment Systems offers small business payment options any local business owner will be pleased with. We serve New Orleans and the surrounding areas and want to help you save money while making money and growing your business. For a free estimate or to get in touch with us, simply fill out our basic form and a representative will contact you within one business day.