Office Space News
Published August 26th, 2013 by Jennifer LeClaire
DALLAS – What’s your biggest problem as a small business owner? If you are like most entrepreneurs, your answer is simple: cash flow.
According to a new survey from executive office suites behemoth Regus, the three biggest hurdles keeping U.S. business from moving forward are: cash-flow (64%); finding new customers (51%) and marketing costs (40%).
“The lasting effects of the financial crisis are still impacting small businesses, especially with respect to credit,” says Guillermo Rotman, CEO Regus Americas. “In order to manage cash-flow better, companies need access to affordable and flexible business services, which allow them to scale up or down without financial risk.”
So what exactly is a small business owner to do? Regus is offering five cost-saving tips you may want to explore as you seek to improve your cash flow. Let’s review them:
1. Eliminate overhead expenses: Small business owners are moving away from long-term fixed financial agreements in order to minimize risk.
2. Pay-as-you-go: From flexible office space, to administrative and marketing support, small business owners are picking and choosing the space and resources that work for their businesses. This allows them to ramp up and ramp down as their business cycles dictate.
3. Enter New Markets: Small business owners are using virtual offices (prestigious local business address, call answering service) to have a presence in a new market reaching more customers.
4. Build a Network: Working in a shared space environment saves money and gives business owners access to other like-minded professionals and to new business opportunities.
5. Leverage technology: From videoconferencing to Skype and from online meetings to audio conferencing, small businesses are reducing their business travel expenses by leveraging the available technology to communicate with clients and remote employees.