Home Business The do’s and don’ts of cost cutting in a recession

The do’s and don’ts of cost cutting in a recession

by Ana Lopez
0 comment

Opinions of contributing entrepreneurs are their own.

The “will it… won’t it?” the recession has preoccupied just about every businessroundups.org for most of the past year. And if you’re up to date on recession news, you’ve probably seen countless articles about how companies and their operations and logistics professionals are preparing. Many of these are focused on cost savings, and perhaps for good reason. During a recession, consumers naturally have less money to spend, and when sales fall, profits also decline. To counter this, the classic move is to scale back spending, but there are critical factors to consider first.

Put on that green visor

Break out that ledger, zoom in on your expenses and see exactly where the money is going. According to a study by Motley’s The Ascent, if you’re like four-fifths of Americans, you’re wasting more money than you should.

You may also like

About Us

Latest Articles