Three Tools for Saving on SME Start-Up Overheads

Australia_UnlimitedStarting a small or medium enterprise might seem like going off on a wild goose chase, in a day and age where established companies are going belly-up. The global financial recession has, indeed, determined entrepreneurs around the world to shift their mindsets when it comes to attitudes about investing, marketing, advertising, and, last but not least, revenue generation. However, this doesn’t mean that all is lost on the front of operating an SME – quite the contrary. As some of the more adventurous minds in the field of business will tell you, a crisis will also generate new opportunities, for those courageous enough to take them. In other words, where the recession created loss and an overhaul of traditional, established attitudes, it also made room for creative improvements on business models.  Here are some new solutions any new SME could benefit from.

An Interim Location

Serviced offices, which are fully furnished and furbished office spaces at business addresses, can now be rented out just about anywhere in the world. The business seems to be particularly thriving in Asian and Pacific area, since countries such as the Philippines and Australia are receiving a lot of contractual business. Companies that operate in one country for a limited span of time are referred to as ‘contractual’; it would make little to no financial sense for them to rent out a permanent or long-term headquarters. As such, interim solutions become much more suitable: they are fully decked out and functional for meetings, centrally or accessibly located and usually cost less.

Outsourcing Tasks

Possibly the best thing about globalization and widespread access to the Internet is that it allows people to be constantly connected to the world – oftentimes quite literally. Geography, cultural barriers, and time zone discrepancies are no longer relevant when it comes to acquiring the needed information, or to hiring just the person for the job. Proof to this stand the numerous employment portals for freelancers, which enable tens of thousands of people around the world to find the best person for the task at hand, irrespective of their actual physical location. This model, which works for freelancers, has also started to pay off for companies, which realized that this will both help them reduce overhead costs, while maintaining job performance and quality. Employees that work for such companies can also benefit from the major boon of flexibility on their working schedule. Of course, there are some industries which are more suited for such models than this one – with information technology-related endeavors clearly topping the list. According to the latest statistics, there are some 50,000 small Australian businesses out there at the moment, which are tapping into the ‘virtual workforce’ pool.

Investing in Cloud Technologies

The cloud is more than just a techie hipster buzzword already and proof to this stands both a thriving industry of online virtualization, as well as a host of burgeoning SMEs that make the best of this system on a daily basis. Cloud computing allows staff in various departments to stay permanently informed on the venture’s goings-on: sales figures, which help the marketing department articulate a more coherent strategy, sales lead generation status, and so on. Aside from database creation, virtual computing is a great way to store information safely and securely online, in order to prevent loss of data due to hardware malfunctions. To boot, having access to a virtual dashboard can also enhance communication among departments – not to mention the fact that it takes a lot less time and money to implement such a working system than to hold interminable meetings and to write memos and official emails.