In their eagerness to take advantage of non-repayable grant funding programs, many business owners overlook hidden costs and risks.
Most entrepreneurs aren’t aware that there are many private funders that specialise in SME finance and that are much faster and more flexible than a bank.
Don’t rely on growing sales and cutting costs to free up cash – there are dozens of other tactics for creating and saving more money.
Business owners can use zero-base budgeting to save more money since traditional or baseline budgeting will eventually lead to bloated costs.
Reactive cost cutting is problematic for a number of reasons and can trap business owners in a cycle of crisis management.