5 ways businesses can prepare.
Inflation is affecting consumers and businesses across the country. With price increases and economic shifts, it’s essential that business owners, especially small business owners, are prepared. Planning ahead, cutting costs, and building protection around your plans and assets can set you up for success. Not sure where to start? Read our five inflation and small business tips to prepare for what’s ahead:
- Study your business expenses and find places to cut costs. This isn’t always a fun process, but it can lead to measurable savings for the future. Start with making energy-saving improvements to your buildings. Your energy supplier may offer business rebates and incentives for these improvements. Consider adding an extra work from home day for your employees to save on utility expenses. Move into a smaller office space if team members work remotely. Look at the materials you buy and source new suppliers to see if there are