5 ways to control your business’ overhead costs

Operating a successful business takes work, dedication, and money—sometimes a lot of money. Giving your business its best chance at success requires funds to purchase equipment and supplies, pay for assistance and labor, and establish a storefront or office location. Operating costs and overhead expenses are necessary for success, but you can use strategies to keep them under control. The payoff is worth it, since growing a business offers outstanding potential returns for your invested dollars.

1. Go Paperless

According to data from MultiBrief, employers spend an average of $80 per employee every year for paper. Fifty to seventy percent of office space is devoted to storing documentation, and searching through paper files can take up as much as 30% of employee work time.

These direct costs are staggering, and they are further intensified by indirect costs such as time spent searching for lost paper documents, administrative costs related to managing information stored on paper, and office supply costs like printer ink, photocopiers, and office real estate space.

 

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