3 Small Business Purchases That Have Helped Me Boost My Income

It's okay to spend money on your small business -- especially if you're taking steps to improve your company.

Being a small business owner sometimes means spending money on your business in order to make more money. This may be challenging, especially if your business is brand new. But some business purchases can help you do your work better and boost your revenue. And as you navigate the ups and downs of your business, you will continue to find ways to improve.

Throughout the years, I've invested in my business to help it grow and to become more efficient and better at what I do. Spending money has allowed me to bring in more money. Here are three small business purchases that have helped me boost my productivity as well as my income.

1. Desktop computer

For years, I worked on a laptop. It was convenient and allowed me to get work done on the go. But now that I'm in my mid-30s, my eyes and brain prefer when I work on a bigger screen.

Last year, I upgraded my laptop to a 27" desktop computer. This investment has significantly improved my work. I can more easily write and research simultaneously without having a million tabs open. I've been able to write better and faster, which has increased my income.

You may need to buy better equipment or electronics at some point in your small business journey. If these purchases allow you to get more done and better meet the needs of your clients or customers, you may also be able to increase your earrings.

Another benefit is small business tax deductions can help you reduce your tax liability. If you make purchases for your small business, keep accurate records for tax purposes.

2. Office rental

After working from home for several years, I found being home 24/7 for work and fun was not the ideal situation for me or my productivity. I enjoyed working in my pajamas and having my two cats as coworkers, but it wasn't the best work environment for me to thrive.

Earlier this year, I began renting out a separate office space. My office gives me the extra space I need to separate my personal and professional life. I find that I've been much more productive, too. I'm ready to check off tasks on my to-do list when I arrive at my office.

While a separate office or storefront is an extra expense, it may be a good option for some small business owners who need a dedicated space. It can also be a smart tax move because business rental expenses also qualify as a tax deduction.

3. Editing software

I work with some incredible editors, and they greatly improve my work. But I put forth my best effort to submit quality work.

Using editing software helps me spot and fix minor errors before I hand my articles in. The yearly fee is inexpensive, considering how much I write and use the software.

This investment has helped me learn more about my writing quirks, which has helped me to improve my writing skills. Slowly, I've been able to work past some of my most frequent mistakes.

I can also self-edit my work at a faster speed before submitting it. The more productive I am as a freelance writer, the more work I can get done and the more income I can make.

While small business accounting software or payroll software comes at a cost, it may be a worthwhile investment. If you're worried about the total cost, you may be able to get a break on the price by paying for an annual subscription upfront instead of a monthly fee.

Don't be afraid to spend money on your business

Yes, it's essential to keep your personal finance and business finance goals in mind. However, don't be afraid to spend money on yourself and your small business if it will make a difference.

If your business only brings in a small amount of money, you may be hesitant to spend money right away. But try to think long term when making decisions and be open to making purchases that help your business thrive.

Are you looking for other ways to improve your business? Review our small business resources for more guidance.