Running any company is costly, but tech companies can incur more costs, usually due to the technology itself, which is obviously very expensive, but also your staff. Staff that work for tech companies will usually have to be very highly qualified to successfully fulfil a role in such a company and all this equates to cost. Never fear, though, as there are simple things you can do to reduce the costs over all (even if it means spending a bit of cash at first: speculate to accumulate).
This may be the biggest expenditure you face as a tech entrepreneur and leader of an SME. Every time you hire a new staff member (which is hopefully a lot as it means your company is expanding) then you will want to buy the best tech for them. You might be tempted to just plump for the best Mac on the market, but this isn’t always a good idea. ASUS are rising through the ranks quite rapidly and they cost half the price and can do everything a Mac can. Don’t always think that the most expensive is the best, because it isn’t. When it comes to Apple products you’re actually paying for the Apple logo and not the tech capabilities within (having said that, I do believe the iPad is the best tablet on the market)
Company phones can be a great thing, especially if your staff need to travel or work from home etc. However, they can be expensive, especially if you’re paying for contracts on a bunch of different phones. What I would suggest is shop around for a better deal from a different supplier. Chances are the phones are locked by the supplier so that you can’t change the SIM for a different one with a different company, but if you check out a company like Unlocking Smart you will find information on how it is possible to unlock the phone easily without having to wait forever for your supplier to do it for you (plus they will charge an arm and a leg, probably).
Down Size the Office
Most tech companies still feel the need to have a large physical office space where all of their staff can work together. Office rent can be expensive, however if you move to a smaller office and allow some people to work from home, you will save yourself a lot of money. With tech companies, be it web design, or digital marketing can get a lot of the work done from anywhere as all they need is an internet connection. In the 21st century, it just makes more sense to have the majority of people working remotely, but still have a physical space to come for meetings etc. If you trust your staff, then there should really be no problem when asking some to work from home. When the company becomes large, then it might be a good idea to get a bigger office again and move people into it, but if you’re making money doing it remotely, then why change what already works?