Reboot 2021: Cost Saving Strategies for Your Small Business

According to the Small Business Administration, about half of all new businesses fail within the first five years, and with the recent pandemic, small businesses are going under at an even higher rate. While many entrepreneurs focus on increasing sales to boost their chance of success, lowering expenses is equally or sometimes more important when trying to achieve or maintain profitability. Cutting business expenses requires some tough choices and trade-offs, but there are ways to do it without a lot of stress or having to fundamentally change your business model. This session will discuss strategies to trim overhead, streamline expenses, and ultimately increase profitability. This session is part of the Reboot 2021 series offered in partnership with the SBTDC, SBA, NC Main Street and Rural Planning Center, and CCCC SBC.