Perhaps your small business has had a rocky time during the pandemic. You might have realised that you’ll need to adapt in order to thrive in a changing world.
[continue reading…]cut costs
Whether you’re starting your business from scratch, or your established company is experiencing rapid growth, maintaining control of your finances and your business expenses isn’t easy. It’s a difficult balance that requires careful consideration and a regular cull or overhaul of your biggest costs. It’s also important that any cuts you do make, don’t have a detrimental impact on your services.
[continue reading…]When the economy is doing well, it’s easy to become too relaxed and spend too much money. Overhead costs like rent, salaries, and travel costs can become bloated as managers ride the wave of prosperity.
[continue reading…]There’s no denying that running a restaurant is no small feat. In actuality, it can be a colossal endeavour that, if tackled lightly, won’t yield the desired returns. After all, not only is the industry rife with competition, but it can be more than just a little challenging for a dining establishment to maintain a consistently high level of productivity without spending more than it needs.
Generally, after Christmas, consumers cut back on spending meaning businesses do too. With little business activity, the economy becomes sluggish and businesses find it difficult to get things going again.
With the average UK start-up spending over £22,000 in its first year, finding ways to reduce costs early on can be the difference between survival and going under. Here are some tips on how you can reduce your start-up costs.
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The number of people deploying professional apps to help run their business has exploded in recent years. With the rise of iPad POS systems, mobile accounting applications, and integrated ecommerce platforms, SMEs have capitalised and prospered, even despite the fact that not too long ago the only reason one would use an app would be to send angry birds flying into buildings.
Often success is measured by increasing profitability of a business, if the profitability isn’t increasing, it can make a business feel stagnant. You don’t have to make dramatic, big changes or cuts such as increasing prices or laying off staff. There are other ways in which you can make small changes that will benefit your business and increase your profits. Being a small business owner, if your year-on-year profits aren’t increasing, or even worse are decreasing, then you will seriously need to look at different strategies to increase your profits.
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