Feeling the Pinch? 5 Smart Ways to Cut Business Expenses in a Tough Economy
Monday, June 30, 2025
Let’s be honest; this economy isn’t easy on anyone.
Whether you're dealing with rising costs, slower sales, or supply chain headaches, many business owners are looking at their financials and asking the same question:
"Where can I cut back, without cutting corners?"
At J&S Accounting, we work with business owners who feel the pressure daily. And while we’re not here to sugarcoat the challenges, we are here to help you make confident, strategic financial decisions, starting with your expenses.
If you're feeling frustrated and overwhelmed, you’re not alone. Here are five practical ways to reduce business expenses without sacrificing quality or growth.
1. Audit Your Subscriptions and Software
Over time, it’s easy to accumulate tools and subscriptions you no longer use or forget you were even paying for.
From marketing or organization tools to industry memberships, these recurring charges can quietly drain your budget.
Pro tip: Go through your business bank and credit card statements from the last 3–6 months. Cancel anything you’re not actively using or no longer provides ROI.
2. Review Your Vendor and Supplier Contracts
In today’s climate, loyalty to a vendor is great, but not at the expense of your bottom line.
Now is a good time to renegotiate terms, shop around for better rates, or bundle services where possible. Many vendors are willing to offer discounts to retain good customers, especially if you ask.
3. Outsource Strategically
Hiring full-time employees for every role may not be sustainable right now. Consider outsourcing specialized tasks, like bookkeeping, design, or IT support, to qualified contractors or agencies.
With the right partners, you can get expert support without the overhead of full-time salaries, benefits, and training.
4. Watch for Overlapping Services
Are you paying two different services to do the same thing?
We often find business owners unknowingly using overlapping software tools, duplicated services, or separate consultants for things that could be bundled. A second set of eyes on your books (like ours) can help spot these redundancies.
5. Get Serious About Expense Categorization
Here’s where most businesses leave money on the table.
If your expenses aren’t being properly tracked or categorized, you could be missing important tax deductions, and spending money without a clear picture of where it’s going.
At J&S Accounting, we provide more than just bookkeeping, we offer personalized expense reviews and monthly financial check-ins to help you understand:
- Where your money is going
- Where you can trim costs
- Which expenses are (and aren’t) serving your bottom line
The Bottom Line: You Don’t Have to Do This Alone
You’re doing the best you can in a tough economy. But if your books are a mess, or you’re not sure where your money is going each month, it’s time to bring in support that actually helps you make smarter financial decisions. In time, it will essentially pay for itself because you will be able to make better financial decisions.
We won’t prepare your taxes, but we will get your books tax-ready, help you cut wasteful spending, and give you the clarity to move forward with confidence.
Book a free discovery call with J&S Accounting, and let’s discuss how we can help you tighten up your finances without losing your mind.
About J&S Accounting
At J&S Accounting, we provide expert bookkeeping services tailored to the unique needs of small businesses and nonprofits. We recognize the challenges that come with maintaining accurate financial records and how vital this is for the smooth operation and growth of your business. As a woman and minority-owned firm, we’re proud to offer our expertise to businesses in Savannah, GA, and across the nation, helping them navigate financial complexities and achieve better financial management.
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The team at J&S Accounting are like working with trusted friends that you have had for a long time. Janel has personally walked me through my first year with QuickBooks as a small business owner, and has made it so easy and enjoyable. She is very professional, knowledgeable, and is always so affirming of how well I am doing. She really takes her time and you can tell that she cares about her customers and wanting them to feel confident about their business finances. I could not recommend this company enough!
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Disclaimer:This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business from a professional accountant. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. J&S Accounting does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. J&S Accounting does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.
© 2023 J&S Accounting. All Rights Reserved.
Disclaimer
This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business from a professional accountant. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. J&S Accounting does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. J&S Accounting does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.