Budgeting Tips for Your New Business

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When starting a new business, saving a dollar or two is important. Running a business has many different responsibilities, including budgeting for expenditures. Creating an Amazon Business account can help with your budgeting in several ways.

Keeping track of your business's spending habits shouldn’t be time-consuming. If you create a business account with Amazon, you will have access to purchasing analytics which will give you a breakdown of your spending. With those analytics, you can see where you are spending too much and fix it. You can also see how others in your business are spending. There is a useful tool called approval workflows which allows you to make sure your employees know what is appropriate when it comes to spending. The workflow approvals allow you to set a spending limit and track the purchases made by your employees.

Another aspect of budgeting is finding the most bang for your buck. You can save a lot of money by finding deals and buying in bulk. Having an Amazon Business account gets you price saving offers on Amazon products. Not only will you save on business products, but on multiunit purchases as well. Buying in bulk can really save your budget in the end. Shipping can also get very pricey with other companies. Amazon includes free two-day shipping for their business customers.

How you purchase products for your company is important for your budgeting. Business credit cards and linked accounts for your employees can be hard to keep track of. Through the Amazon Business Account option, you can set up credit lines directly through Amazon. This allows you to control how much you spend and lets you keep an eye on all of your expenditures. You can set up an Amazon Credit Card through American Express which offers many perks, including gift cards, statement credits and even zero annual fees in some circumstances. Another tool they offer to help you save money is Tax exemption services. Amazon helps their Business customers find out if they are eligible for tax exemptions through their ATEP (Amazon Tax Exemption Program). This program supports tax exemptions for purchases of Amazon products, other affiliated sellers and even third-party sellers that participate in the program.

Starting a small business is a lot of work, but finding the right tools to budget and save money can really take a lot of the stress out of it. Amazon Business accounts can help small businesses thrive, so give it a try today!