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Posted by on Mar 23, 2017 in Finance | 0 comments

Small Things that Can Save your Small Business Money

Small Things that Can Save your Small Business Money

A big part of running a small business, especially in its infancy, is finding enough money to get the whole thing rolling and growing. Often times, SMB owners need to find new ways to survive before they can get into the black and stay there. Now, we all know that in order to save money, you have to do a few big picture things such as having a sound business plan and a well-though out budget; not wasting money on ineffective marketing techniques and hiring the right people. However, what about the little things? How about those seemingly insignificant savings that build up and provide you with much needed surplus by the end of the quarter? Today’s article is all about those little things. 1. Embrace Telecommuting Sure, telecommuting is famed for being a great employee engagement booster, but can it really save your small business money? It sounds a bit far-fetched, right? How much water or electricity can one employee use when they are in the office? In...

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Posted by on Sep 26, 2016 in Featured, Finance | 0 comments

4 Hidden Costs of Running a Small Business

4 Hidden Costs of Running a Small Business

Running a small business, as you probably already know, is a spectacularly difficult thing to do. It feels like90-hour days would not be enough to get everything done. The same goes for money – everywhere you look, you are hemorrhaging money and it feels nothing can stop the bleeding. And this is just the stuff you expect. Once you become an SMB owner, you soon find out that there are always novel, hidden costs of running a business. These hidden costs are our subject today. I Am Paying My Employees How Much? When many SMB owners think about how much they are paying their employees, they tend to only think in terms of annual salary. In reality, their salary makes only a part of the money you will spend on them. It is still the largest part, but only a part nonetheless. Most experts agree that you actually pay somewhere between 1.25 and 1.4 times their basic pay. Where does this other money go? It goes on taxes, workers’...

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