Expenses Your Small Business May Encounter
You may be used to the monthly cost of operating a small business, but what happens when your company is ready to grow? Below are some tools and resources to help better prepare you for unforeseen costs to consider before expanding your business, plus tips on how to better manage your energy use in your small business.
5 Unforeseen Costs in Growing Your Small Business
Don't let surprise business costs or energy costs get in the way of growing your small business. Here are 5 costs to consider before expanding your business:
- Location & Energy Costs
- Professional Service Fees
- Employees
- Insurance
- Operational Equipment Maintenance & Repairs
How unforeseen costs could get in the way of growing your small business.
Estimating Utility Costs for Your Small Business
As a small business owner, you know that managing your bills can lead to an accurate picture of your expenses. Knowing the typical utility costs for your type of business can be critical to the success of your business plan.
Understanding Your Small Business Energy Bill
One expense of owning a small business is your energy bill. If you live in a de-regulated state, you have the choice to choose your energy supplier. Understanding your energy bills is an important part of managing your budget.
The total energy price for your small business is made up of various charges and fees. Some of these charges can be controlled through your energy usage patterns, while others are determined solely by your energy provider, or by the market.
Reducing the Peak Demand Charges on Your Energy Bill
There are two big charges on your small businesses electric bill—one for demand and one for consumption. Demand measures the rate at which you’re using energy in kilowatts at a given time, often in 15 minute intervals. Consumptions measures the electricity consumed in kilowatt hours per each billing cycle.
Learn what peak demand is and how you can reduce your consumption
Common Business Energy Wasting Mistakes
Nobody wants to willingly waste energy, but sometimes there are things that you might not even think about that could be inflating your energy bill. Even the most environmentally conscious small business can develop energy wasting habits that can increase your carbon footprint.
Tips and ideas to help stop wasting energy in your small business
Automate Your Office to Save Energy
By now you know that it can be expensive to keep your small business running. When looking for ways to trim your expenses, consider automating your office to help save energy. By determining how much energy your office is using you can see how automation could benefit your business.
Seasonal Small Business Expenses
Summer Expenses
If you’re looking for summer cost savings, a great place to start is identifying the ways your small business wastes money. Are you wasting electricity in your workplace? Is your small business overstocking or understocking inventory? Are you overpaying for labor you don’t need? For a list of cost cutting summer ideas, read more here.
Winter Expenses
During the winter, your HVAC system might be pumping extra hard to keep your office, business and employees warm. From sealing leaky windows and doors to taking advantage of off-peak hours, here are a few cost savings tips to prepare your business for winter.