Seemingly small expenses such as office supplies can add up and eat into your business revenue. If you want to safeguard working capital while still keeping your office functional, take a look at these tips on reducing your office supply budget.
- Replace reusable products with durable ones; it is an initial investment but offers long-term savings.
- Do more digitally or in the cloud to cut down on paper and pens.
- Buy last year’s models of printers or other office hardware.
- Join a loyalty program for discounts at a local or chain office supply store.
- Remind employees not to take office supplies home.
- Track all expenses so you don’t miss even a small tax deduction.
- Review expenses on a regular basis to identify and cut down on waste.