A tire manufacture that was once a household name recently complained that imports from China were helping to destroy its business. It was looking for help to rescue its business from financial difficulties. One doesn’t really know all the forces that are affecting this business but it’s circumstances does make one think what has management been doing to avoid the crisis?
It’s just amazing how the cost of doing business has risen. Consider fuel costs – they have sky rocketed Electricity prices have gone through the roof. Rentals, wages and business services are all shooting up. The inflation rate running around 5,8% lulls one into thinking that everything is not as bad as it seems. But costs of products and services that are essential for doing business are increasing at an alarming rate. Continue reading “Small businesses owners living close to the edge need to act fast”