The evolving small business...in a credit desolate America

[Jenny F.]

With all of the economic chaos and so many struggling, how are you, as small business owners, making changes to your businesses to ride the tide?

My 2009 business cut back plan is simple...
1- My lease ran out on my satellite office so I did not renew it SAVING $$6500.00 per year (rent, phones, internet, gas getting there)
2- NOT buying a new or used car this year SAVING $$6,000.00 (in payments, interest & full coverage)
3- NOT hiring anyone new this year SAVING $$27500.00 (but it keeps ALL the pressure on me)
4- paid off almost all debt SAVING $12,000.00 in interest per year (commercial loans, high interest credit cards)
5- Scaled back the cell phone plan SAVING $1200.00 per year
6- NEGOTIATED with internet provider down from 65.00 per month TO $20!!!! thankyouverymuch....SAVING $$540.00 per year.
7- Closing accounts with banks that charge fees for banking (scanners, usage fees) and going to a CU for FREE checking/savings...SAVING $$1200.00 per year
8- Magic Jack (i havent done it yet but i have only heard good things) SAVINGS $$1200.00

Just by doing/not doing these things MY business will save a WHOPPING $62,640.00 DOLLARS!!! I am going to put EVERY PENNY of that in the bank!!!

Its amazing that when you sit down to really think about what is truly required to run a business what YOU CAN CUT. These are things that should be thought about in the good times too so that business can ride out the bad times...

Anyone else have some cost cutting ideas to share? Let's share ideas!