Wednesday, July 30, 2014

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

Ford releases 2015 F-150

Truck boasts high performance, capability and efficiency.

The A Team

Andre Landscape Service focuses on understanding the “client paradigm” to differentiate the firm in a competitive market.

Spray it or spread it?

If you’re trying to figure out whether you should be using a sprayer, a spreader or a combination of the two, consider these pros’ purchasing, training and maintenance tips.

Time-tested

DeVisser Landscape Services enhanced its reputation with the proven systems of a Weed Man franchise.

12 months of Zen

Judy Altmaier opens up about her first year at Exmark, and where she sees the market headed.