How to know where to cut down without compromising on quality and efficiency.
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May 2022
Phew! What a month; financial year-end for some, public holidays (either an opportunity or a challenge) and the return of dreaded loadshedding. This month’s SME Toolkit newsletter will prepare you for much of the same, as we look at various ways to make this month a profitable one. Enjoy!
Know Where to Cut Costs
The most obvious strategy for staying in the black during tough economic times is to control costs. But how do you know where to cut down without compromising on the quality of your products and the efficiency of your business? When looking for ways to manage expenses, you first have to determine if you are making losses, breaking even or just barely making a profit. If you’re losing money, it may make sense to trim enough costs to offset those losses.
Do Employees Have to Bear the Brunt of Load-Shedding?
The recent power outages have given rise to the question of whether employees can insist on being paid their salaries or wages for the duration of such outages. In short, employees are normally entitled to payment during a power outage, but employers are not entirely at the mercy of Eskom. They can enter into a contractual arrangement with their employees to mitigate the situation.
Elements for a Successful Press Campaign
To conduct a successful public relations campaign, it helps to be familiar with some of the basic PR tools. The main "elements" of a PR campaign are the press kit, press releases, media alerts, backgrounder or fact sheet, biographies, media lists or contacts, and news conferences or briefings. Learn about these tools in this article series from our PR experts.
7 Ways to be a Better Business Person This Year
No matter how good you are at running your business, you can do better. As a small business owner, you have to be pretty hands-on when it comes to the day-to-day handling of the company, which means you always need to be at the top of your game. This is the year you’re going to do that. Here are some tips on how to be a better business person.
If you need more information on a specific aspect of your business, go to the SME Toolkit South Africa website for tools, templates and guides to help you succeed. You can also like our Facebook page and follow us on twitter for daily updates.
Ponder this
“If opportunity doesn't knock, build a door.”
- Milton Berle (American comedian/actor)
