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The constant risks present in today's economic volatility made many entrepreneurs especially from small businesses and start-ups to look for means to reduce overhead costs without undermining their business efficiency. As cutting overheads is one of the most proficient means to increase revenue, investors have been carefully implementing new means and reallocating company resources in recreating the essentials of their business and to some extent even including their brand.

For business starters, outlined below are the four ways that can help their company reduce its overhead cost.

Accounting- Keeping track of business expenses and understanding the dynamics of its cash flow is necessary for starting entrepreneurs. As it keeps the investor in tune with the daily business undertaking; the decision making and expansion process can be done on much faster and orderly manner.

As accounting generally can be utilized in all parts of business operations, the hassle behind supply and stock management, storage costs, market changes and purchases can be monitored efficiently reducing the chances of occurrence to begin with.

Outsourcing- With many multi-national companies understanding that growth translates to changes in terms of business needs, many organizations resorted to outsourcing as a form of business strategy. Although there might be some drawback in terms of quality check and fee transparency; outsourcing in the Philippines or elsewhere, if done fittingly can provide great savings on necessary services.

Task in IT, accounting, customer service support, marketing and even recruitment can be delegated to an outsourcing service provider that specializes in those services. Instead of hiring a full-time customer service representative especially on the early stages of the business, an employee leasing firm can provide you a dedicated staff that will assist a client concern and manage a business support center for the meantime.

Human Resource Management- Worker's compensation take's up a big share in terms of operating costs hence before hiring a personnel, re-evaluation in terms of employee roles in the business is necessary. On the other hand, ensuring employee development, training, performance review and staff meetings are crucial for business continuity and growth. Therefore, hiring a dedicated staff to fulfill a range of company roles and training current staff to be able to handle more than one job function should always be checked and measured.

Green Initiatives- Aside from saving the earth, going green can significantly reduce costs and encourage savings. The practice can also be a point of interest for many employees especially with the rise in popularity of advocacy support. Being environmental friendly can cover from going paperless, to telecommuting to save on transport cost and even installing energy saving equipments which at the end reduces unwanted costs. Moreover, the efficiency behind eco-practices is good even for long term.