Small Businesses Working to Cut Expenses
Small businesses in America have been through a whole lot since the first lock-downs hit back in 2020 due to the Coronavirus. All told, around 80% of all small businesses in America were forced to close down, either by state or federal regulations. Many of these outright evaporated and never returned. For those businesses that were lucky enough to return, they're not even acknowledged as surviving the pandemic by this current administration. Instead, President Joe Biden takes credit for his economic policies creating these businesses from scratch, while the business owners are shouting to the top of their lungs that they have struggled and clawed all through the pandemic, just like many Americans.
The reason this distinction is important to businesses is that they want Americans to know about their grit and determination, and about their loyalty to their customers. When this administration treats returning businesses from the pandemic as if they were just conceived of and created this month, it betrays the true American spirit that these business owners are trying to use to their advantage. It really is underhanded and bordering on outright cruelty, to use these businesses as political props to claim false laurels. Though what most business owners are having the most trouble with is inflation in this economy, namely their expenses. The rapidly growing rate of expenses is their chief concern, and so there are a lot of small businesses working to cut these expenses without having to cut employees.
According to mainstream media sources like MSN and CNN, however, all small business owners should be relying on the government to solve their problems. These sources claim that Congress should pass legislation to assist them, suspend gas taxes, and more. While all of this may be helpful, the fact is that small business owners are sick of being spoken about as if they're not in the room. 'Government has done enough, and were 'barely here as a result,' said one owner of a locksmith business in Georgia. Many have taken their own initiative to cut their expenses originally.
Setting Up Remotely
One of the ways that some small businesses are cutting major expenses is by setting up remotely, and also having employees do this where they can. They're not laying anyone off or paying anyone less. They're instead trying to figure out ways to handle remote work. For instance, does a secretary really need to be in an office, or can he or she answer calls on a company line from home? The same thing with customer support, taking orders, and much more. This can all be done remotely. Not only does this save the company in question a lot of money and space that they have to pay for, but it also allows the employees to cut their fuel expenses drastically.
This is a useful modification for all sorts of businesses. Plumbers, electricians, etc; tons of businesses can benefit from these changes.
Partnering to Share the Burden
For many decades in the workforce, people going to work at the same job have carpooled, in order to save money on gas and to ensure that everyone gets to work on time. What's stopping businesses from pooling their resources in such a way? For a lot of small businesses in America, they're actually joining forces instead of working at cross purposes. For instance, small businesses that sell lumber, and those that use lumber, have been coming together for better bulk discounts. This can work for purchasing metals and all sorts of other supplies.
Instead of trying to make money off of one another, many businesses have decided that working together will help them to cut their overall expenses. This is something that could very easily catch on and last a long longer than inflation.
Price to Sell
Another way that businesses are cutting expenses is by pricing everything to sell better. What this accomplishes is that these companies don't have to rely so much on marketing and advertising spending, as word of mouth really gets around when people shopping with you can also save money on their expenses. Mathematically, this makes great economic sense. If you're selling something for $50, at a $20 profit, but only move 10 units, you're making $200. But if you lower that price to $40, which is lower than anyone else, and sell 50 units, you're making $500 and greatly increasing your profit. Despite the Biden administration blaming inflation on "greed," small businesses are displaying the opposite and profiting more by allowing customers to cut their personal expenses.
On America's current trajectory, inflation could get much worse. That's why a lot of small businesses are working hard to cut their expenses, so they can stay in business.