How to save money as a small business

Economic downturns bring obvious challenges for small businesses. What's not always so obvious is how to actually save money, especially across your online presence and digital products.

It’s easy for small businesses to fall into the trap of thinking “it costs what it costs” or “I can’t afford to do that”, or think that any meaningful savings are only applicable to larger companies (who bulk-buy products or invest in expensive services). But crucial savings are there to be found for small businesses — and solopreneurs too. They can give you a vital edge when facing difficult times — “expensive” is relative, after all.

Maintaining business diversity is also vital to a healthy online marketplace. Everyone, no matter their business size or skill level, should have the tools and advice needed to thrive. And there are providers who offer tools like this alongside domains, hosting, and other website essentials. They might be ways to nail your branding, manage social media, or any number of the other useful tools small businesses need to grow without breaking the bank.

So whether you’re just starting out, or simply looking for ways to help power through the challenges ahead, this guide is here to give you practical advice on how to save and strengthen your business. It’s all part of making sure you can make more online, for less.

Looking for value 

Finding value right from the start is clearly important — looking for who has the best prices is a smart move. But there are other important factors to consider when squeezing out every last drop of value. It’s also worth remembering that finding value can also be a longer game.  

Billing cycles

One thing you’ll notice right away is that most digital products are renewed on a yearly or monthly basis. For this reason, it’s worth thinking about the longevity of the prices, and not just how much it will cost you today. It’s also a good idea to keep a close eye on the /yr and /mo indicators next to the prices to be sure you aren’t getting confused between the two. Some products might even be billed quarterly or biannually. These distinctions are never hidden but are easy to muddle when you’re comparing many providers at once.

It's a fairly good rule of thumb that longer billing cycles yield the greatest savings. For example, choosing a yearly subscription over a monthly subscription will usually give you a bigger discount. The reason for this is quite simple — by committing to a year, you're guaranteeing the company more money, and they tend to reward this. After all, monthly rolling contracts can be canceled with around 30 days' notice.

Look for hidden renewal costs

Consider the price your items will renew at next year, to find out where is best financially for the long term. It doesn't take many years of a higher renewal price to cancel out any upfront savings. At Namecheap, you will always get a transparent look at the renewal price when you buy from us, and when you check out, there is a full price breakdown in your cart.

It's also worth noting that over our birthday period at Namecheap we usually offer discounts on renewals to reward our existing customers for their loyalty.

Promos, coupons, and trials

It’s also useful to check out the promos page of the companies you're considering (if they have one) to see how frequently they run promotions, and which ones are upcoming. While there's never a guarantee of a particular product being on offer at the time you want it, companies with a tendency to offer generous discounts are likely to have good ongoing value as one of their core principles.

Of course, it isn't just the company's own deals pages that contain their offers. Checking aggregate voucher sites might also yield results. You might discover vouchers with better discounts, or ones that allow for savings on products not usually discounted.

Similarly, find out if your company is written about by reviewers and comparison sites. Most companies in the industry are reviewed frequently, and their products and services are compared against one another. Looking at the results is a good way to work out where you can find the best product versus price and will allow you to draw comparisons based on who comes out on top most frequently. Not to mention the fact independent reviews are a great indicator of the performance and legitimacy of a company.

Try search terms like ‘cheap email providers in 2024’, or ‘the best WordPress Hosting going into 2024’ and see what comes up trumps.

Another great tip, for the moments you aren’t sure a product is right for you, is to make the most of any free trials. At Namecheap, we offer free trials continuously on nearly all of our products. Professional Email, EasyWP Managed WordPress Hosting, and FastVPN to name but a few.

But it's important to remember…

Value and savings aren’t always the same thing, especially if you're a beginner in the world of web design. Seek out a provider that is generous in offering peace of mind, so you know you have the support you need on hand, exactly when you need it. 

Namecheap is an industry leader in customer support. Our support chats are open 24/7 with experts across every part of the site, and dedicated staff for each set of products.

But we also understand that you don't want to jump on a chat with Customer Support every time you hit a minor snag. That’s why we have extensive and detailed guides on how to use every one of our products, and much more besides. More on that in a moment. 

Transferring domains & websites

You might be reading all this wishing you'd chosen a different provider, maybe after a bad experience. 

The good news is, it's incredibly easy to transfer to Namecheap. Since (year), regulators require the process to be straightforward and quick to execute. Transferring a domain to Namecheap is particularly easy, and means you benefit from our always-low prices, built-in security, and excellent customer support.

You'll also get free Domain Privacy built in, and the option to use our exclusive Domain Vault security product, which utilizes the best of human and machine verification to protect your valuable domain assets. 

You can also move whole websites over using our hosting migration tool. Sites built on cPanel or on WordPress are particularly easy to move, but we can assess all sites on a case-by-case basis.

Consolidate and save

By consolidating, we mean putting everything in one place. In this case, having your domain, hosting, and other products (such as security), all with the same provider. Doing this offers certain advantages, one of the biggest being savings. It works in the same way as a multi-buy at your local supermarket: The more you spend in one place, the better the deal you get. Not to mention that it’s easier to keep track of everything.

Buying your domain & hosting together

Traditionally, it’s been said that separating your domain and hosting purchases is a good thing to do. After all, is it not getting the best of both worlds? Surely companies geared more towards domains have prices and expertise a hosting company can’t match — and vice versa?

Actually, this is a myth. Quite the opposite is true. There are several key benefits to having your domain and hosting side-by-side with the same provider. The reality of a domain vs. a hosting company has long since been blended. Most, if not all, companies that offer one, offer both. Usually, these companies offer plans of varying sizes to suit businesses or individuals, and some even help you scale up as your business grows over time.

Buying both from the same provider offers clear advantages too. For example, it’s far easier to link your domain to your hosting. In most cases, this can be done in one click. If domains and hosting are with different companies, technical elements tend to increase — which is especially confusing for those creating an online presence for the first time. 

One of the main arguments you'll hear against putting everything with the same provider is that if there’s a failure with that provider, every aspect of the website fails. This is flawed logic because if any one part of your website goes down (hosting, DNS, etc), the whole thing will have an outage anyway because each service is integral to keeping the site up and running.

Another key benefit of using only one supplier is the ability to save by pairing items. By bundling domains and hosting together, you can make significant savings. Additionally, knowing your provider offers flexible, scalable hosting plans is a definite advantage for longevity. Once you're with a company, it becomes increasingly difficult to move the hosting, as website migration is still not the easiest thing to do. Carrying out migrations can lead to issues, but most importantly, some downtime is almost unavoidable. So, it is best to choose a company whose hosting has longevity, and scope for growth. 

As we mentioned already, some companies will offer solutions for those seeking the lowest-cost, most basic website builder alongside hosting options for medium, and even large enterprises. Choosing a company like this will help you going forward. 

Integrated security benefits

In a world where online crime is rising, choosing a provider like Namecheap, which values security, means every product you purchase has been conceived with that in mind. Using one provider makes it easier to know what security measures you have in place, and helps with integration across products. At Namecheap, we have a huge range of security products, including the standard SSL Certificates, through to products exclusive to us, like Domain Vault and SiteLock.

Saving through digital DIY

A big part of finding the right provider is knowing they have the extra web tools you need to keep developing, harnessing, and improving your website. But not only literal tools to help you do things. You are your business’s greatest asset, so it stands to reason that if you develop as a professional, your business will reap the rewards. That’s why choosing a provider with free resources for personal growth is as important, if not more important, than one with apps and plugins to help you. Luckily, Namecheap has both.

Easy business tools

Especially at the start, every cent matters. The more you need to outsource, the more initial costs you will rack up. The truth is, it can be easier than you might think to bring things in-house — in fact, it’s what our range of DIY tools was made for. They cover everything from design to business management (like social media and reviews), and we’re adding more all the time. Not only are many of them free (or otherwise, very low cost), but they are also incredibly easy to use — even if you’ve never worked with similar tools before. 

Let’s take a look at Logo Maker as an example. You simply enter your business name, choose your favorites from six sets of typefaces, and from there, our algorithm will narrow down thousands of fonts based on your preferences. Then, all that’s left to do is add an optional symbol, choose a color scheme, and then mix and match until you’re totally happy with the result — and it’s all completely free.

Easy learning

Developing your business skills and knowledge isn’t just about growing your business. It’s also a great way to save. Why outsource to experts when you can do it yourself? You can be more empowered to take control of your business, and there is way more you can easily learn and DIY than you might think.

Resources and guides for everyone

We have several key learning hubs within Namecheap. Our blog offers the latest tech news, alongside aspirational content, opinion pieces, and advice on common business dilemmas. All in all, you can find hundreds of articles to help further your understanding of the world online. The articles are easy to digest, and could easily inspire your next business moves, or just offer some light reading for your downtime. 

We’re also building an ever-increasing array of detailed video guides about our products to help those who find it easier to compute content with audio and visuals. Likewise, our Knowledgebase takes a deep dive into the minutiae of our products and services. 

But our most recent addition to our family of learning is our Guru Guides.

Guru Guides

Our Guru Guides have been written especially to help you cultivate your website and business online, for free. Whether you want to start and manage a business, or develop your existing business to get more customers or clients, we’ve got you covered.  

Beginners should check out our 101 Series of Guru Guides. These articles break often complex subjects into basics so that novices can easily understand them. All key areas of online business are covered here, from building your first website to understanding product marketing — and everything in between.

But more advanced users can simply type the subject they want to learn more about (like SEO) into the search bar, or select a category from the left sidebar, and find comprehensive articles on whatever they need to learn.

For example: Want tips on how to choose the best domain? We can help. Choosing the right domain is essential to how people find, understand, and remember your business — but you’ll know all of that after reading this one simple guide. Top tip: You could even outsource your ideas to our unique Beast Mode domain search tool to get further inspiration and ideas. 

Our Guru Guides are constantly expanding, so be sure to check back regularly and see what you can learn!

Advanced learning

Of course, you may already have your website, email, and even some pretty cool design work in place. But online, nothing is ever finished. The Internet is constantly evolving, so you must be too. Our breadth of resources can help ensure even the most seasoned web pioneers can increase and harness their skills.

Think about those things you have on your to-do list — the tasks that become dusty as they’re thrust to the back of the queue as day-to-day activities take over. We can dust those off, and make them approachable. 

Set up a coherent email marketing plan that reminds customers of your activities, or improve your site’s SEO so people can find your website more easily on search engines. Perhaps your landing pages would perform better with a bit of a tweak, but you aren’t sure where to start. These are all topics that our gurus go into in detail. And even they are just the start. 

Growing with Namecheap

Whether it’s offering the best prices for longevity, products to help you make more online for less, or putting a world of free knowledge at your fingertips, perhaps most of all, we want Namecheap to be a place where you can grow. So, while there are indeed several things to consider when you want to save money online for your small business, it doesn’t need to be a complicated process — choosing a company like Namecheap sorts it all out for you. We’re here for you every step of the way — literally. Our Customer Support Team and expert guides are reachable 24/7.

Right now, we’re encouraging everyone to Make More Online, For Less in 2024 so you can find the tools and value you need for your future plans.