There is no better time than now to to streamline your business. With the global economy faltering, business are forced to reduce cost dramatically since decrease in sales has not been matched by a decrease in overheads. But this is no reason to worry there are many ways that you can counteract the downward trend.

The current global focus on environmental-sound development is also beneficial to your business, if you haven't noticed that. There are now a wide range of recycled products and services that are focused on reducing the cost to the environment whilst the resulting increased competition is reducing costs for businesses.

However, outside sources will not help you that much to go through these times. It's smart purchasing combined with a thorough review of the services and equipments used can make your business far more efficient so that it can continue to grow whatever the economic climate. For example buying office furniture and equipment is unavoidable expenditure and can be a significant outlay, but if you spend a little bit more time to shop around you will find cheap alternatives without having to sacrifice quality, such as second hand goods.

Below are just 5 more ways to simply and effectively reduce business costs:

1. Get the best prices
   Energy prices have spiralled so switching utility providers may save you a significant amount of money. There are many websites that offer comprehensive comparisons of what is available. Alternatively, try to get special packages or bundles for your suppliers designed specifically around your business needs -- in doing so, you need to list first some immediate requirement of your business.
   
   
2. Buy the right equipment
   Buying I.T. equipment is always a costly-yet-unavoidable exercise. But there are other options to cut cost such as buying re-manufactured equipments that still have good quality. For example, printers Laserjet are a leading provider of fully warranted, up-to-date re-manufactured printers. The stock primarily comes from demonstration models, factory excess and loaned models. It is returned to good-as-new standard by manufacturers and then sold to you at a discounted price.
   
   
3. Reduce waste
   Reduce waste which result in reduces costs for both purchasing and disposal. If possible -- always use less packaging and re-use paper and envelopes. Also, use of electronic communication rather than paper where possible has the added advantage of saving on postage too.
   
   
4. Save beyond the office
   Ask your accountant, lawyer or insurer and see if they can find way that you can reduce your overheads. Sometimes just changing small details, particularly with insurance, can save you a lot of money on your premiums. A fresh perspective may be all that you need to save money. Ask your accountant if there's new regulation that can result in tax incentives from government by following environmentally friendly initiatives.
   
   
5. Join Industry Association
   Join association that is relevant to your industry might help you to reduce certain costs. You will probably find that they offer a number of incentives to be a member. For example, many offer reduced insurance rates or discounts on equipment and specialist products; and special rates for corporate training and networking events. Of course, knowing what happen in the industry is always good for your business
   

5 Smart Ways to Cut Cost While Being Eco-friendly