As a new small business owner, you need to conserve your cash. It can take six months or more before your business turns a profit.
Furnish Office Space for Less
Look at used furniture stores for good deals on bookcases, chairs, and pre owned desks. You will save money and help the environment by keeping used items out of the landfill. Many of these items will look like new with a touch of paint, a scratch pen, or a decorative cover. Strategically placed large plants can hide blemishes while improving indoor air quality.
Keep in mind safety and liability issues when making your purchases. Make sure that screws are tight, and that all parts remain intact. Be careful not to overload items with too much weight.
Barter Professional Services
When starting a small business, you will need a lawyer, a bookkeeper, and an accountant to help you stay on top of regulations and taxes. If you have a skill of your own, consider trading for some services that you need. This may work best if you have friends or family members are in the professions.
There are several online marketplaces for professionals to barter. In addition, attend your local chamber of commerce meetings. Walk around your neighborhood; if nearby businesses get familiar with your skills, they may refer others to you for cash-paying gigs. Bartering becomes a way to network.
Keep track of your barter transactions and the fair market value of the services traded. Your accountant may need that information when you file your taxes. You may need to provide 1099 forms to the people with whom you exchange services.
Keep your expenses low when starting your small business by making smart used furniture purchases and bartering for professional services that you need. You will take on less debt and improve your cash flow.