The top 5 tips weekly post is always full of hints and tips for small, home & micro business owners.
1. Never purchase stock or supplies before you are absolutely certain that you will need to use them. Unused stock is absolutely useless to your business until you do something with it.
2. Try to find equipment that will perform multiple functions to cut down on cost. There are many printers that double as scanners and fax machines that can be used as photocopiers.
3. Sometimes it more sensible to lease certain items rather than purchasing them outright. This is particularly true in regards to expensive machinery or vehicles that your business must use.
4. Make sure that your pricing structure takes into account all of the costs that your business incurs and still manages to return a reasonable profit.
5. Be aware of the various factors that could impact on the ability of your business to build capital, as this will help you to compensate for them.
If you have additional tips, please share them in the comments section.