On Feb 25 2022 / by Wyoming Paul

Business budgeting for after-work beers

4 simple ways to increase your business’s spending money and make room for life’s simple pleasures

The work year is gearing up again, but with summer weather and swimsuits still salty, there’s no reason to let go of the warm holiday feeling just yet. Even the workplace can feel more relaxed, whether through reduced Friday hours, more casual dress codes, or a good supply of after-work beers.

But how’s your beer budget looking in 2020? If it’s a little tight following the end of year party and a sleepy start to the year, don’t worry - there are plenty of ways to earn some extra income and budget for those after-work drinks.

1. Make income by sharing your resources

One of the easiest ways to make extra revenue is to share your resources. Many businesses have unused workspace or parking spots, either because staff are away, the workforce hasn’t yet grown into the size of the space, or there are quiet hours during the day. Instead of letting these resources sit empty, you can lease them to people outside your business and make extra income.

Share your car park

If you have underused parking space, you can use the Parkable app to share it with the public. List it for free on Parkable and reach thousands of people searching for parking. Simple to use and flexible to suit your schedule and work hours, leasing your extra parking bays can bring in revenue every month with very little effort.

Interested? Learn how restaurants and small businesses use Parkable to cover their car park leasing costs and generate income.

Share your office space

Hot desking is another easy way to immediately increase revenue, as well as bringing fresh faces to your business. You should look for people who can bring their own unique energy and experience into your building, so that your workplace becomes more enjoyable as well as more profitable. Try Shared Workspace for Australia or Shared Space for New Zealand to find hot deskers.

2. Make it your business policy to buy pre-loved

Some business expenses come up unexpectedly, when items need to be replaced or revamped. Rather than buying brand new, look into second-hand versions, or if you’re in a place to invest in the future, choose an option that will be cheaper in the long-run.

  • Vehicles (and practically everything else): TradeMe and Gumtree are your friends. Keep an eye out for pre-loved vehicles in good condition, and if you want to invest now and reduce fuel costs well into the future, consider a second-hand EV or hybrid.
  • Tech equipment: Buy refurbished tech from companies like GoodTech and Reboot IT to save money - and do some good by reducing, reusing, and recycling.
  • Furniture: For all sorts, check out All Heart NZ, a charity that repurposes used business equipment and puts the proceeds toward Pacific communities. In Australia, try Sustainable Office Solutions for quality salvaged furniture.

3. Use technology to your advantage

Many pricey business activities are much cheaper when you do them online. While the options will vary depending on the industry, here are a couple of examples to start you off:

  • Use open-source software like Google Drive and OpenOffice.org instead of using paid applications.
  • If you or staff need to learn new skills, try free online training programmes, as well as splashing out on in-person courses when it’s really important.
  • Email receipts and invoices to save on printing costs (and impress customers with your eco-friendly policies).
  • Advertise and market your business cheaply online. Options include Google Ads, social media marketing, and blogging. Read more about promoting your business for free online here.

4. Start a swear jar

Want to tone down the bad language and put the proceeds toward a good cause (ahem, beer)? Start a $2 swear jar with the promise that it will mean better work drinks. Alternatively, you could start any other kind of fine jar, depending on what your business values or wants to cut out - a ‘single-use plastics jar’ or a ‘leaving dirty dishes in the sink jar’, perhaps.

Wanting to make more drastic overhead savings, or looking for innovative ways to increase your revenue stream? Click the links!