Many of us are probably still in disbelief that the economy turned so bad so fast. In a matter of few months, our investment portfolios have dropped 30, 40, even 50%. And it’s not news any more when we read about company layoffs or industry bailouts. What does this all mean to small business owners? Some of my clients say they haven’t felt it but are watchful; others are already seeing the impact of the recession on their businesses. What we know for sure is that there’re some lean times ahead – it’s wise to take precaution and start reviewing your business and looking for ways to cut cost and save money.
For that reason, I’ve been meaning to write an article on ways to cut costs for my clients as a guide. Then someone else beat me to it… I came across an article by Annette Bourdeau and Jennifer Myers in Profit magazine – “Managing – 75 Ways to Cut Costs Now”. There are such tips as “Buy generic supplies whenever possible. Do you need name-brand pencils?” I knew Annette and Jennifer had a comprehensive list and nailed it for me. Here is the link to their handy-dandy list.

It doesn’t matter if you run a one-person operation, or have 100 strong in staff, there are tips in this article that will save you money. It will be a worthwhile exercise for your business.