Launching a start-up? Here are 4 ways you can save money and help the environment

If you are launching a start-up business, reducing your day to day spend and saving money where you can, will make a huge difference to your bottom line. If you have taken out a small business loan to fund your venture, then your finances might be even tighter. It is also important, where possible, to […]

If you are launching a start-up business, reducing your day to day spend and saving money where you can, will make a huge difference to your bottom line. If you have taken out a small business loan to fund your venture, then your finances might be even tighter. It is also important, where possible, to do your bit to help the environment. There are several things that you can do to make both possible. Here are 4 ways to save money and help the environment at the same time.

Coworking and coworking spaces

Office space can be costly and, depending on the location, can be prohibitively expensive. Coworking allows you to rent a desk (or multiple desks) in a shared office space that has all the amenities and facilities your business may require to function. As you will be sharing the space with others, it also provides an opportunity to meet like-minded business people who are either starting out or already established. It’s a modern, fresh approach to the working environment and, as the facilities are shared, helps the environment too.

Work from home

It’s a good idea to consider whether working from home might be an option as it can provide many benefits and cost savings. No commuting time allows you to get up and start work immediately to maximise your time. Zero fuel costs and vehicle usage will not only save you money but help to reduce carbon emissions. The biggest benefit, of course, is the savings you will make per year on hefty rental costs for premises. If you have a spare room in your home, think about turning it into an office. Many people convert their garage to create a functional workspace. Granted, there may be initial outlays, but you could save thousands in the long run.

Carsharing

If your office premises involve a commute, why not consider car sharing? There are dedicated websites that match you with people who use the same commuting routes as you and need to reach their destination around the same time. This is a great way to save money on fuel costs and reduce your carbon footprint. It is also a great way to meet new people and have someone to chat to on your journey.

Purchase the right vehicles

If your business requires multiple vehicles, it is important to take time to consider exactly what you will need before purchasing. Try to choose vehicles that will maximise fuel economy and are the right size for your needs. Diesel vehicles can use HVO fuel, which is an alternative to regular diesel and far better for the environment. Another option, if you are in two minds about buying, is to consider a lease agreement. This could give more flexibility and will allow you to stage the payments rather than shell out a lump sum. Many lease agreements also cover maintenance should anything go wrong, which could be a welcomed incentive.

Photo credits: coworkinglondon.com

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