Monday, March 30, 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

John Deere updates 3E Series

3032E and 3038E are the newest additions to the compact utility tractor line.

EPA registers new pesticide

Oxalic acid will target varroa mites, which are a threat to honeybee colonies.

Power walkers

Zero-turn and stand-on mowers get all the attention, but walk-behinds can show your clients you are paying especially close attention to their properties.

Worth the money

Charging for design work has its benefits.

Easy SEO

Try these seven search engine optimization quick-fixes for your lawn care and landscaping website.

x