These 7 Business Expenses Are More Negotiable Than You Think
Not all business expenses have to be fixed at a certain rate. In fact, there are several things you spend money on every month that you could be negotiating a lower price for. These seven business expenses are often overlooked as being negotiable, but with the right research, you’ll be able to lower the costs by a few dollars or even a few thousand per month. Keep reading to learn about seven business expenses that are more negotiable than you think.
1. Employee Benefits
Employee benefits combined with labor costs can add up to thousands of dollars per year for your business. While you certainly want to provide your employees with a decent benefits package, if doing so is going to bankrupt your business, you aren’t really helping anyone in the long run.
Employee benefits packages can be acquired based on the specific benefits you want to provide, and with so many healthcare and 401k options out there, it shouldn’t be difficult to find a plan that’s more affordable than your current one. While you shouldn’t strip your employees of their current benefits, making slight changes can significantly lower the cost of maintaining these plans; especially if you manage several hundred employees.
Did you know you can change gas or electric providers? Your electric/gas company simply handles your account and runs the lines to your business. Third-party companies can offer a natural gas or electric supply that can often be cheaper than what you’re paying for now.
Many third-party providers even offering electric from wind, solar, or other alternative power sources; so you’ll not only be saving money, but you’ll also be doing your part to improve the environment by using clean energy.
Take a look at your electric bill and see how much you’re paying per kilowatt hour. Research electricity providers in your hour and compare their rates with your current rate to get a better idea of where you should go for a more affordable energy provider. Utilities can add up quickly, so anything you can do to shave off a few dollars from the bill can help your business tremendously.
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