Cost Control Techniques for SMEs
Cost control means managing expenses so the business can keep more of what it earns.
Set spending limits
Decide how much can be spent daily or weekly on small expenses.
Review supplier bills
Check whether supplier costs are increasing and whether better terms are available.
Track expenses by category
Categories help reveal which costs are growing too quickly.
Compare cost against sales
Some costs are acceptable if they support sales, but costs that do not help the business should be reduced.
Bizwazi helps track cost categories and review business performance.
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