Inflation may be squeezing your family budget, but it’s taking a toll on small businesses, as well. According to a 2022 survey from the National Federation of Independent Business, 30% of business owners said inflation was their biggest hurdle. If operating margins are tight, looking for ways to cut expenses should be top of mind. […]
Expenses
5 Often Overlooked Money-Savers for Every Startup
When venturing into the world of business with your own startup, there can be a shock to the system when financial expectations meet reality. According to CBInsights, 29% of startups fail during the initial years because they are unable to fulfill the costs required. Fortunately, there are many ways you can learn to save money […]
4 Ways to Cut Costs (Without Cutting Corners) in Your Healthcare Business
The economy has been fluctuating ever since Covid hit in 2020, and we’re still in the process of collectively recovering from the lockdown. While many businesses have sprung up and even flourished over the last couple of years, it’s still a good idea to be mindful of your finances and make sure you aren’t spending […]
2 Simple Ways to Increase Your Bottom Line
Every business owner I work with wants to increase their bottom line and make more money, but forget that often times the simple steps can have the biggest impact. The one issue that stops many of these owners from “seeking the simple,” is that they feel if it’s so simple, it can’t possibly work. Well, […]
Watch Out for These 6 Easy-to-Forget Expenses During Your Business’s 1st Year
The idea of starting a small business can be exciting to many would-be entrepreneurs, opening up the opportunity for job flexibility and the freedom to call your own shots. However, even though running a business can be fulfilling and offer the chance to build wealth, it’s not always the cheapest endeavor. If you’re interested in […]
3 Simple Ways to Reduce Unnecessary Spending
As a small business owner, you’re also a consumer. And as a consumer, whether for business or personal, there are many temptations to be found to spend your hard-earned cash. It can be easy to get carried away with spending on the things you love, however, this can lead to financial difficulties if not kept […]
How to Save On Your Shipping Costs
Image Source The vast majority of online customers want their items to be delivered swiftly and at a reasonable cost. It might be quite tempting to provide your clients the cheapest shipping rates possible, but doing so may have a detrimental influence on your profits. That is why it is even more critical to be […]
Do These 4 Things to Control Overhead Expenses
Small business owners need to be vigilant about controlling overhead expenses and mitigating exposure to unnecessary loss. In certain instances, some short-term costs can stave off long-term or unexpected costs. Here are some ways that you can help your small business become as profitable as possible. Be Willing to Pay for the Technology That You […]
Self-Employed? 8 Ways to Lower Your Expenses
You own your own home-based business and, like many, had a tough financial year. 2020 is a year that most people want to leave behind. Thankfully, there are several ways to reduce your home-based business expenses so you can run leaner and more profitably in 2021. Credit Card Debt Many freelancers have excessive credit card […]
Why an Average Startup Burns Through So Much Cash
Conventional wisdom tells managers that they have to spend money in order to make money. That doesn’t always work, however. Many firms don’t keep an eye on their burn rate, which is a measurement of just how fast they burn through their initial seed capital. Housekeeping startup Homejoy blew through around $40 million in venture […]
