Small businesses can manage tough times
With the echoes of Christmas sales a distant memory and the sudden surge from post-Easter purchases ...
With the echoes of Christmas sales a distant memory and the sudden surge from post-Easter purchases dying down, this is the time of year for smaller businesses - particularly retailers - to take stock of their situation.
Taking the time to check through an organisation's financial positioning can be a valuable activity - particularly in the lead up to the end of the financial year.
This allows managers and decision makers to get a clear look at the parts of a firm that are performing well and the areas that could be draining resources unnecessarily.
One prominent cost is often found to be the funds taken up by the location of commercial property - with rents for office space and storefronts needing to be factored into overall profitability.
If the premises utilised by a company are not performing as well as desired, managers have a number of options at their disposal - depending on their desired outcome.
Firms that need additional foot-traffic to keep them going could opt for a highly visible location in a pedestrian arcade - while businesses seeking to reduce their expenses might wish to consider the opportunity to relocate to lower-yield premises.