Starting a business can be expensive – many business owners underestimate the cost of things like legal advice, quarterly leasing costs and deposits when acquiring premises, as well as covering the costs of obtaining the equipment you need to get that first office established.

Here’s some tips to help reduce some of these start-up costs.

1. Check out websites like Latest Deals to find discounted prices on furniture and equipment online. If furnishing a new office, the cost of each item can vary considerably, even for the same brand.  However you do need to ensure that different brands are of the same quality and compare like with like. Going for  for a budget brand may not provide adequate ergonomic support or be as durable.  Getting a good deal on a trusted brand is always a good option!
2. Check out second hand bargains.  High-end office furniture from luxury brands can often last 20+ years, and are updated when a company rebrands rather than because there is anything wrong with it.  If style is a concern, you may even find a company supplying higher end furniture will also be happy to come and design your interior space as part of the deal.
3. When it comes to technology, you can also get bargains – but if you aren’t an expert, seek advice from an IT expert before buying. This is because computers vary hugely by spec, and they go out of date very quickly.   That said, you can pick up some massive bargains.  A used ipad, imac or Mac Mini is often a real bargain compared to new, giving you more budget to spend elsewhere.  It will perform well, you can usually still update the spec with more memory and may even find models that are still current or less than a year old for a fraction of the cost.  The downside of this?  Bargain hunting is addictive and you may buy more than you need!
4. When looking for your first office, don’t automatically assume you need a large prestigious building to attract customers. Check out business centres, council start up units and flexible office rentals as well as searching for independent premises to rent.  It is possible to find small units within a business centre for as little as £300 per month, including business rates, electricity and so on, you won’t have hidden costs and they are also usually great place to meet other start-ups, delivering plenty of business networking opportunities.  You can upgrade your premises as your business grows, and these spaces are often more flexible, whereas if you have your own premises, you can expect plenty of hidden costs, such as the landlord’s insurance, a long lease meaning you can’t easily move, repairs (depending on the type of lease) and utilities.
5. Speaking of networking, this is one of the fastest free (and paid) ways for a start up to quickly grow your business. It works really well for B2B businesses.  Most councils will have a local small business networking group and this is a good place to start, you’ll have chance to meet other businesses, meeting fees are usually low and venues are normally accessible.  However, as your business grows, it may be worth considering joining one of the more established networks like BNI or Introbiz – or even both!  Paid networks often attract bigger budget businesses – the fees can be as much as £1k per year, but with all these events, the focus is not what it costs but how much business you can gain from being a member.

We hope these start-up tips have given you some good ideas to get you started.  Let us know what worked for your business in the comments below.