By now if you haven’t cut costs in your small business, it’s about time you do so. Would-be start-up owners need to plan their business using a low-cost model. Small businesses with a lower cost base stand a better chance of survival in this recession.
Cost cutting can start anywhere. I know of one business woman who looked at her inventory and realised that she didn’t know exactly how much stock she was losing. Stock was disappearing through untrustworthy staff. So she implemented daily stock taking. This soon gave her far better control and awareness of just how much she had lost. She could put in preventative measures. Continue reading “Cut costs to the bone”
