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2018-08-08 01:15:42Finance and Accounting: ExpensesEnglishChoosing the tools with the highest value can make every rupee count. Here are top must have small business tools that are worth your money. Must-Have Small Business Tools That Are Worth the Money

5 Must-Have Small Business Tools That Are Worth the Money

2 min read

As a small business owner, it’s easy to be overwhelmed by the latest “must-have” tools and resources. From time-tracking apps to collaboration technology, each one promises to help you work smarter and faster. When your budget doesn’t allow for a spending free-for-all, choosing the tools with the highest value can make every rupee count. Here are top must have small business tools that are worth your money.

High-Speed Internet

India is speeding into the digital age and it’s important for your company to keep up. Customers expect cashless payment options and head to your website to research your company; the government requires you to file and pay your goods and services tax online. All of these tasks are easier with a high-speed internet connection. Faster connections mean you don’t need to worry about slow page loading, so you can save time on everyday tasks such as email, internet research and blog posting. The extra speed also means that you can hold smooth video conferences with clients or offer online service to customers. This improved business functionality is well worth the higher service fee.

Cloud Storage

Are your business files stored on a traditional server? If so, you might consider switching to a cloud storage program which stores your data on remote servers that are accessible from any internet-connected device. That means that you never need to run to the office or wrestle with a VPN to find a file. Cloud systems make it easy to collaborate and share with remote employees. What’s more, reputable options like Google Drive come with serious cyber security protection, and some offer automatic backup of your data.

Accounting Software

Accounting is a daily part of your small business. On any given day, you might create GST-compliant invoices, track expenses, file receipts, and check your bank balance. Occasionally, you need to check up on cash flow, run profit-loss statements, and manage your inventory levels. Cloud-based accounting software such as QuickBooks packs all of those tasks into one user-friendly program. With a single login, you can remind a customer about an invoice and record an employee’s billable hours — all in a matter of minutes, and from any device. When you’re running a small business, this convenience helps you make the most of your valuable time.

Email Management

As your business grows, email marketing can be a great way to increase sales and build awareness. However, traditional email programs aren’t built to handle mass-messaging. That’s where an email management program like MailChimp or Marketer comes in. These programs enable you to design branded emails and send them to your mailing list. You can track each message to identify effective campaigns and interested customers. With these powerful tools, it’s easier to create effective, inexpensive marketing campaigns that boost your sales.

Legal Services

As a business owner, you need to comply with all of India’s laws regarding business operation, taxes, labor, and licensing. If you’re new to the game, it pays to bring in legal help. While you probably don’t need to hire a full-time attorney, an annual or bi-annual legal checkup is worth the money. Your lawyers can review your operations and spot any small issues before they become legal liabilities.

When your budget is tight, value matters. When you’re choosing tools and resources, you can get the most value from tools and resources that save time and increase productivity.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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