Increase in SME profits despite decline in revenues!

The Times reports that small businesses have seen an increase in profits by 6.5% in the first quarter of 2024. This is despite a decline in revenues. According to Sage’s small business tracker, companies have been cutting costs to bolster profitability. It states, however, that many are waiting for a more stable economic and political climate before making investments.

iBOSS Comment:

A regular review of costs & expenditure should be a standard procedure for any well-run business. Any resultant cost reduction is normally to be encouraged, unless that is, it would seriously affect future growth potential. This is Where the Team at iBOSS can be of considerable assistance. Between us we have many years of experience in reviewing company operations with a view to maximising returns. If you are interested in an impartial review of your business’s operation call us on 07876 503830 and ask for a free consultation on the services we offer. Alternatively complete the enquiry form by clicking on this link.

#costreduction #reducebusinesscosts #businessefficiency