Black Owned Business Network


We all know that starting a new business can be costly.  There are several ways that you can reduce your start-up costs.

    1. Reduce Legal Fees - Lawyers are very useful when it comes to starting a business, but don't pay for services that you can do yourself such as registering your business.  All the information and forms that you need can be found online.

    2. Office Sharing - There are many companies who could benefit from sharing office space and expenses.  Many companies have unused space and are willing to offer it to you at a reduced cost.  Some companies will even allow you to use services such as phone, internet, and copy machine for free.  All you have to do is ASK!!!

  1. Barter Services - You are not the only one looking to lower your costs when starting a business.  Attempt to barter services with another company. The key to this is offering something of value.  Bartering can reduce or eliminate your costs for products or services.  For example, the black owned business network just paired a photographer service with a landscaping service.  The photographer needed landscaping services performed at their building.  The landscaper needed some photos taken for their portfolio.  The two companies considered this to be an equal trade and no money changed hands.

  2. Buy Used or older Models - You can buy file cabinets, Computers, cameras, desks, and more Used.  Take advantage of going out of business sales and garage sales. By last years model of that camera or computer system that you need.

  3. NEGOTIATE - Remember that EVERYTHING is negotiable.  The worse thing that someone can tell you is no.  So it does not hurt to as for a better price.

While, you can reduce some of your start-up costs, remember that there are several things that you should never skimp on including your product, marketing, and web design services.  See "Run Away from Free Website Offers" for more information.

What are ways that you have reduced your business start up costs?

Published in Business Tips