Wednesday, March 04, 2015

Home News Workers take the hit for struggling small businesses

Workers take the hit for struggling small businesses

Industry News

Owners have saved the most money by cutting payroll.

| September 14, 2010

Small businesses' profit margins may be increasing, according to data from financial analysis software company Sageworks, but this isn't exactly good news.

The company's latest figures show that while profit margins increased by 5.13 percent over this time last year, sales are down by 6.46 percent. This means, according to Drew White, chief financial officer of Sageworks, that a small business' success is being driven by expense containment, not revenue.

"Small businesses have to work very hard to make a profit," White says. "They have to carefully manage expenses if they want to stay in business."

Sageworks aggregates small-business industry data from the CPAs and accountants in its subscriber base. The accountants, in turn, use the benchmarking data to compare their own clients to industry peers. Financial data from more than 233,000 companies was used to compile the latest figures.

Click here to read the rest of the story.

 

 

 

 

Top news

PLANET unveils a new name

Ten years after it was formed, the industry’s national association has updated its name and logo as part of a strategic rebranding.

Free Grounds Guys webinar announced

Landscapers looking for solutions to finding qualified employees can attend the March 4 event.

Rules on recruiting

Knowing what to do isn't the challenge faced by executives – finding who to do it is.

Ariens reflects on passing of past president

Michael Ariens had recently celebrated his 55th anniversary with the company.

Plants and personalities

L&L attended the iLandscape show in Illinois and learned about native landscaping and how to deal with different types people.

x