Cheap Hotels In Cardiff, Tax Breaks And System Of Payroll - Helping Your Business Afloat

Making your business recession proof is not as hard as it seems

. These days, it may seem even necessary as the world is slowly reeling from a global financial crisis. Here are some of the things you may do in order to keep your business afloat and perhaps profitable:

- Cost cutting. If your business requires servicing clients and constant travel to do so, find ways to cut down expenses. Trim the expense account by 20% at the very least. Look for good deals. For example, if you have business in Cardiff, try looking for a cheap hotel to stay in. Cheap hotels in Cardiff do not necessarily mean a skanky one, but one that has the best price or rate given to you. If you already have a favourite hotel, try talking to them to give you a special rate. Most hotels will accommodate these requests for a long time customer than lose that account. Even airplane fares can be negotiated with travel agencies or even the airline itself. One can get special rates for long term clients. Remember these are also service related industries that do feel the economic pinch and it is easier for them to keep their existing clients than to have to look for a new one.

- Look for tax breaks. Sometimes by taking the time to understand the new tax laws, you may be able to find loopholes which can help you avoid paying more taxes but the right taxes. Have your accountant there to help you with this situation. This does not mean tax evasion but tax avoidance. This also does not mean creative accounting but rather correct tax recording which if done properly may be able to save you some money.

- Change the system of payroll to your employees. There can be a number of things one may do to do this. First, reward employees based on performance. Pay out more for commissions and lessen the basic pay. Good sales companies often have a small basic salary but give huge bonuses based on performance. See if this structure helps your company as well. The other option that you can do is to encourage home office work. You can have people telecommute their work at least once a week. This can actually save you money on office expenses like electricity and office material. Getting them to also communicate online or through email for internal communication is also good for saving more paper, ergo savings on the office expense at the end of the year.

by: Steven Magill

POST COMMENT

Five Great Ideas For A Work At Home Business Pursuing On-line International Business Degree International Business Corporation - Is It Right For You? What Are The Essentials Of The Buy Requirement For The Business Leads! Lessons I Learned From International Business (School Course) The Benefits Of Off-site Data Backup For Businesses Recession Obsession - Fight Or Flight - Recommendation For International Businesses in the UK Retiring To A Life Of Graceful Aging In Dallas Texas 2008 Trends in International Business Expansion Affiliate Marketing Online Business- Online Affiliate Programs-advertising And Marketing Best Home Business Opportunities International Business Card Etiquette A Liberty League International Business Review