Money Mouth

Advice on controlling your budget and running cheap workspaces.

Tips on how to stay on top of your workspace finances.

When running small or mid-sized workspace it is vital to keep a good grasp on your finances. However, keeping tabs on your outgoings can be a bit tricky, let alone actually reducing costs.

With this in mind, here is a short guide on running cheap workspaces:

1. Energy Consumption

Energy Saving Personified Bulb


Firstly, consider your energy consumption. Remember to switch off all lights and electrical equipment once the last person has left the workspace. However, it is worth finding out whether your company choses to leave lighting on after hours for security reasons.

Also consider switching to energy efficient bulbs. These can significantly reduce the amount of energy used throughout the working day.

You may also want to think about your heating and cooling facilities. Don’t turn the radiators up to max if you know the office will be too hot in a few hours. This just leads to turning the air conditioning on.

Work out a good temperature for the office and try to keep it at that level. During the summer months try to open windows rather than relying on air conditioning systems.

Lastly, try not to overfill the kettle when you take your coffee break. It may sound ridiculous but over time the amount of energy wasted in this way can cost quite a bit of money.

2. Water Consumption

Saving Water Sink Sailing

Water consumption is another element that many overlook when running cheap workspaces. Encourage employees to turn off taps correctly in the kitchen and bathroom areas. It only requires a steady 5mm stream of water throughout the day to waste around 528,000 litres of water a year. In terms of money this could cost your company around £705. Shocking isn’t it.

3. Paper Waste

Wooden Man Saving Paper Paper Bin

One of the most expensive and wasted resources in a workspace is paper. However, there are a range of steps that you can take to ensure that you cut down, creating cheaper workspace expenses.

Becoming a paperless office is easier than you think. Devices such as portable hard drives and memory sticks are great for backing up work efficiently. Consequently, this cuts out the hassle of creating outdated filing systems.

If you do need to print, use both sides of the paper and consider whether or not documents really need printing in colour. It is also great to purchase recycled products. Items including ink cartridges, the paper itself and even the ink are all recyclable.

Finally, once an ink cartridge is empty remember to dispose of it in an environmentally friendly way.

4. Keeping Record

Whilst all of these things can help to run cheap workspaces, it is also important that you know how much money is coming in and out of your business each month.

If you don’t have an accountant you need to document expenses yourself. This means keeping two separate records, one for outgoing costs and another for incoming profit. Remember to document everything that you purchase for the office along with the bills for electricity, water and employee wages.

Why not try implementing some of this advice over the coming week? It is pretty certain to help you run cheap workspaces.