The spending allowance of your business likely matches its size. If you are a small to midsize business (SMB), buying new computer hardware can be financially hard for you.
Luckily, there are many innovative ways for you to save money when buying new computer products. Here are some vital tips to help you save money on computer hardware for your business:
Buy Hardware in December
Christmas, New Year’s Eve, and a beautiful winter wonderland— these are some of the best things that make December so magical. But that’s not all!
Did you know December is also the best month to buy computer hardware for your business? Why you ask? It’s because most hardware shops offer massive discounts on products towards the end of the year. As a rule of thumb, businesses typically aim to stock new items in January to celebrate the new year. Additionally, hardware manufacturers discontinue older products with the promise of not carrying them into the upcoming year. Instead, they develop and release new hardware, expecting suppliers to stock their fresh products.
As a result, hardware outlets prefer to sell excess hardware, especially slightly older versions, so if you’re looking for a way to save money on your purchase, scout for stores offering special end-of-year discounts.
In addition to finding the lowest hardware prices in the market, you can also get an extra tax write-off by buying devices in December. You can take advantage of these deductions under Section 179 of the Federal tax law. This law indicates that any hardware purchased recently must be put into action by December 31st, 2022 (or in the same year it was purchased). However, you must use these devices for business-related tasks at least 50% of the time to qualify for the deduction.
This law was designed to facilitate new companies in digitizing their business.
Look for Promotions and Sales
Leading on from the last point, many sellers will have year-end sales to boost revenue before their “quarter” ends on December 31st.
Some vendors may offer a splendid buy-one-get-one-free deal or related variations of it. You might even be able to snag a discount on the second piece of hardware if you pay full price for the first.
Keep your eyes peeled for these promotions. Sellers are competing against each other to generate the most sales and secure a large market share in the hardware-selling business. This means they’ll likely release new deals to attract and secure consumers from competitors. Take advantage of this fact when shopping for new devices, and be sure to have your IT provider compare price tags for the same product against different seller platforms.
Buy in Bulk
Making bulk purchases can help you save a ton of money, especially if you’re buying enough supplies to furnish an entire office. Speak to your local seller and inquire about a potential discount. Chances are they’ve been scouting for a client like you and will be more than happy to sell you bulk products for a fraction of the price.
Look to buy from wholesale retailers by reaching out to our Silicon Plains team to get the best prices possible.
Sell a Brand Endorsement
If your local computer hardware store is struggling to make sales, consider pitching them an endorsement. Endorsements are an excellent way to boost a company’s sales by getting its name out in the market.
If you decide to follow through with the discussion, bring up impressive stats about your business. For example, you can inform the hardware seller that your website gets a large number of site views from consumers living within the area (and near the hardware seller’s outlet). Ensure to use accurate statistics to boost your chances of landing the deal.
You can offer an endorsement in exchange for a small discount on your hardware order. As a result, you’ll end up saving precious dollars while the hardware company gets much-needed new clients!
Look Into Repairs
If you already own computer hardware that has recently begun malfunctioning, why not get it repaired? Repairing a product costs significantly less than investing in a new device.
However, if you’re looking to upgrade existing hardware, consider this next option.
Invest in New Computer Parts
This option only works if you already have enough hardware to power your office but are looking for better options. Instead of changing the entire computer or accessory kit, look for individual hardware pieces that can be installed into the computer to boost its performance.
For example, if you feel your current set of PCs lacks sufficient storage space, try buying external storage. A new hard drive that can be plugged into your existing system is an excellent example of this.
Hopefully, this list of budgeting tips will help your business save up on hardware purchase costs. However, if you’ve missed the last date to avail of a Section 179 write-off or take advantage of the year-end sales, don’t despair! You can always plan for next year and budget accordingly.
Silicon Plains offers excellent pricing for SMBs looking to expand their computer hardware or purchase new products entirely. This is because of our unique relationship with top hardware vendors, allowing us to offer you the best hardware products at affordable prices.