Responding to the current downturn, Melanie Linder of Forbes.com has compiled a list of creative cost-cutting tactics for surviving a recession after canvassing small business owners and consultants across the USA.
The tips include:
* Cutting costs on packages sent through the mail.
* Sharing office space and subleasing.
* Using enterprise organisations and group purchasing to get better deals.
* Letting product developers take charge of their own projects while offering partial support in return for a stake in their efforts.
* Rationalising communications technology.
* Offering extra paid vacation days for the coming year instead of year-end bonuses.
However, Ken Hagerstrom, chief executive of Expense Reduction Analysts, warns against downsizing staff numbers. "Many think that the next step is to eliminate head count, but they will almost certainly be late when recovery comes," he says.
Creative Cost-Cutting Tactics For Small Biz
Melanie Lindner, Forbes.com, 17/11/08
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