If you are relying on your own finance to fund the start-up of your business, controlling your personal and business cashflow will enable you to invest more money into your fledgling business. Points to consider:
- Rethink where you go on holiday and also how many holidays you take each year. Work out how much you spend on going out in the evenings and eating out; this may be an area where you could cut back and save cash.
- Buy good quality second-hand goods such as an office desk or telephone system which will save money rather than buying them from new. However, if you intend to have clients in your office, it's important that the furniture you buy doesn't look too old and worn.
- Consider using a space at home to work. There are considerable savings to be made working from home rather than paying rent and business rates, and utility bills for an office.
- Think about the costs of running your business. You might be able to arrange an inclusive price for your phone and internet connection. It may be cheaper to send an email rather than phone a supplier. See office resource efficiency.