Business Daily Media

Men's Weekly

.

Sales drop of up to 75 percent forcing many SMEs to find new ways to cut costs

  • Written by Ben Wilmott


A new poll by Business Australia has revealed 6 out of 10 businesses reported sales losses of up to 75 per cent this year, compared to the same time last year.

The survey of businesses 200 staff or less, found 18 per cent reported consistent revenue while only 9 per cent enjoyed a growth in sales during the pandemic.

Business Australia, a free national membership organisation, is encouraging business owners to look for ways to save money and cut down costs while operating through the changing coronavirus restrictions.

Business Australia Chief Customer Experience Officer Richard Spencer said businesses can trim as much as $800 off their energy costs each year using the online Business Energy Advice Program (beap) which provides free independent energy advice tailored to your Business.

“Small businesses have been heavily impacted across Australia, but there are simple ways to help your business stay competitive, manage costs and keep cash flow steady”, Mr Spencer said.

Tips to cut down on business expenses:

*Go paperless: Reduce how much it costs to send and store mail (and your environmental imprint).

*Compare the best utility prices: Compare prices and switch providers if they offer a better deal on electricity or gas. The average saving is just over $800 per year for Businesses.

*Negotiate hard: Many suppliers, even landlords, may be able to support businesses through this crisis with extended payment terms, rate reductions or even debt forgiveness.

*Operate online: Shift business operations to the ‘cloud’ to save on physical storage space and look to sell online if you can.

*Clever marketing: Look to earned media, especially through social channels to deliver cost-effective marketing campaigns.

*Streamline subscriptions: Review and cancel subscriptions you may not need Anymore.

More ways to save – Business Australia has a wide range of online resources to support businesses to manage employees, reduce business costs, access business funding and assist in marketing and professional support.

For more information visit www.businessaustralia.com

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

THE FINE LINE WITHIN HILARIOUS SIGNAGE DESIGN FAILS

It seems like design failures still occur in today’s modern branding era, despite rigorous rounds of approvals behind the scenes. One signage show...

Deputy Announces Exclusive Global Partnership with Predelo to Bring AI to Shift-Based Businesses

Deputy, the global people platform for shift-based businesses, has announced an exclusive partnership with Predelo, an AI Decision Agent-as-a-Serv...

Leftover Budget? The Last-Minute EOFY Tip to Drive Business Success in FY25/26

The countdown is on. With just days left until EOFY, now’s the time to make your remaining 2024–2025 budget work harder and smarter. After workin...

pay.com.au appoints new CEO and Managing Director

The former COO will lead the company’s next growth phase, with ex-CEO Edward Alder transitioning into the role of Managing Director AUSTRALIA, 25...

Sell by LayBy