How to Save Money While You Spend It

You have to spend money to make money--and, it turns out, to save money too. As the economy slows, you're probably looking for some belt-tightening measures in your small business. This AP article offers several ideas--the catch is that all of them require you to spend a little upfront.

The Russo Group, a marketing firm in Lafayette, La., hired a CFO whose strict rules reduced expenses by 18 percent in one year. A PR firm in California outsourced all its HR duties to a professional employer organization--a move that saved both time and money. By outsourcing these time-consuming functions, executives could spend more time on their PR business--the best bet for a business trying to stay ahead of a recession.