Every business has unnecessary business expenses. When business is good, we don't usually analyze our expenses too closely. Then, when times get tough, we find that we may have developed a few bad habits. This is a good time to take a close look at all of your expenses and find areas where you can cut back. Be creative, stringent, and frugal with your spending.

Air travel
Before booking a flight, consider flying from another airport in the region or with a different airline that might have lower fares.

Continuing education
Instead of sending your employees outside of the region for continuing education, try to find options that are close to home. With so many education options out there, it might be possible to find an alternative that is a short day trip instead of an overnight stay.

Insurance
The insurance market seems to be softening, so now is a good time to be more assertive with your carriers and revisit your policies. This would also be a good time to think about increasing deductibles.

Gifts and celebrations
Consider the cost of your gifts and office celebrations (for the holidays and other occasions). You might be able to give gifts that are just as meaningful for a lower cost. Instead of renting a party center, your own facilities could provide just as festive of an atmosphere for celebrations.

Entertainment costs
Golfing, dinners, and sporting events are often used for networking with clients and prospects. You might think about golfing at public courses instead of holding a country club membership or buying smaller blocks of sporting tickets instead of season passes.

Each business will have its own unique expenses to evaluate. Trimming down on these costs can make a big difference to your bottom line.