3 Areas Where You Can Reduce Your Business Costs Right Now

3 ways to reduce your business costs right now


Do you want to make savings in your business right now? You can. It may be that you have to wait until the actual savings can be made, but it’s never a bad time to create an action plan for business cost saving.

There will be some business costs that are fixed costs and are fixed until a specific date. Rent on your premises is a good example of this. For these expenses, you should take note of when contracts are due for renewal and make plans to shop around or to renegotiate your deal in advance, if only to save you renewing your contract in a last-minute flap never knowing if you got the best deal or not. [Read more…]

Cost Reduction in Business: Recruitment and Staff Retention

How to reduce the cost of recruitment

If you hire people to work in your business then you’ll know how expensive it can get – not only on their wage but also on holidays, in-work perks, ongoing training and development, and bonuses. That’s once they’re on board; getting good staff to join your company can also prove to be a costly exercise. But that’s not to say it’s not worth it because hiring on the cheap could impact negatively on both your company’s future productivity and its profitability. [Read more…]