The overall economy is well beyond the control of any single business, and the current economic downturn has definitely hit income results for many organizations. Taking steps to carefully monitor business expenses, though, can provide a way to save for these rainy days. Even a lean business can find ways to trim expenses with a little effort.

For many companies, the first thought (and the biggest fear) is that cuts will have to come from the payroll, which often accounts for 60 percent of any company's expenses. Laying off employees, though, may be a poor strategy that does nothing more than undermine morale and overtax those left behind.

Instead, look to utility costs as one way to save. Electric and natural gas prices continue to rise--so audit your office environment. If some areas of your facility are unused, close it down and heat only enough to protect the contents of the room. Turn off lights and choose bulbs that provide the right number of watts to give adequate light. Even better, fluorescent light bulbs offer longer life and lower power usage. After hours, turn the thermostat down in the winter and the air conditioning off in the summer.

Also, look for free and affordable marketing methods. Make sure that your business logo is on every piece of paper that leaves your office. Encourage your technicians to participate on forums or blog to position themselves as experts in their field. Or find a company that offers complimentary services and products and do "buddy marketing," where each sends out information on both companies as a way to get twice the bang for the buck.

Consider different vendors for business supplies. For example, by buying checks from an independent supplier, you can save fifty percent or more compared to buying them from the bank. In addition, talk to existing suppliers. Shop around for services such as telephony, broadband and utilities. You may have more bargaining power than you think since these companies are also struggling with reduced sales.

For those vendors that you must use, look at reducing the amount you use the product or service. For example, postage costs are skyrocketing. Consider sending digital copies via email rather than using FedEx or the U.S. Post Office. E-mail may be more effective than printed mediums anyway, since it goes directly into the hands of the intended recipient.

Finally, whenever possible, stay at the office. Teleconferencing and video conferencing technologies let you stay in touch with important contacts. Virtual meetings are cheap compared to the cost of airline tickets and hotels, not to mention mitigating the productivity hit while folks are on the road. Online training and webinars can often replace on-site conference attendance, while still providing opportunities for continuing education.

By conserving pennies here and there, businesses can rack up substantial savings over time … and everyone can sleep better at night knowing they are doing everything they can to keep costs under control.