Times are tough in South Africa due to the COVID-19 pandemic and subsequent lockdown. Individuals, as well as small businesses alike, would benefit from saving some money right now. Our webinar titled: How to Save Money hosted by our very own Marketing Professional, Craig Fester, gives you actionable ways to preserve your monetary resources.
As much as the tiering down of lockdown levels has given many South African civilians and businesses renewed hope, it’s important to note that the COVID-19 pandemic is not over. We will still have to resume operations with a lot of caution in terms of health and safety guidelines during the pandemic but also financially. Countless businesses have been left in the cold due to having to cease operations and even though the government has made funding for small businesses available, as well as tax deferrals available, the financial strain is undeniable.
Here are a few tips to help you save money in your business:
Settings financial goals is crucial for your business. As yourself; what do you want to achieve financially over the next few months or years as a business? Set tangible goals for your business:
- 1 – 6 months
- 6 – 12 months
- 1 – 5 years
Practical and actionable tips to save money and grow your business
Here are a few actionable tips that you can action to save your business money:
- Market your business on social media
- Keep track of paid subscriptions
- Use barter subscriptions as far as you can
- Have meetings online and cut down on travelling
- Use your website or social media as ad space
- Sell your products or services online
- Use trials before you buy
- Don’t get locked into contracts for web hosting or internet
- Learn as much as you can so you can do everything yourself
- Separate your finances from the business
- Register your company at the CIPC to protect your business name and products.
Watch the video to get an in-depth view of how you can save money: