As we approach a new year, companies are looking for new ways to save money and properly budget. As a small business, it can be difficult to save money and grow at the same time. There are, however, some unique things you can implement to trim your operating budget.

Hire Freelancers

Modern communication tools make onboarding a freelancer to your team much easier. You can adjust your staff depending on your current workload, which helps reduce overhead. Paying per project, instead of per hour, also provides your freelancers with a flexible work schedule and makes it easier to retain them. Utilizing freelancers also enables you to either sub-let your office space or reduce your office space to save money.

Automate Your Finances

Modern technology allows us to save money in new ways. There are open-source programs, online payment tools, and applications that can help reduce your cost of goods sold. Take payroll, for instance. By utilizing payroll software, you can accomplish all the tasks done by a payroll administrator. This helps you determine salaries, pay employees in various ways, and ensure you’re falling within all state and federal tax regulations.

To set your business up for success I recommend using Gusto for your payroll needs. If you’re an AFEUSA member, utilize your three-month free trial to determine if it’s right for you.