Business people aiming to cut costs in the coming year must address their attitude to business, announced the National Federation of Enterprise Agencies (NFEA).
The body urged SME managers to examine their financial situation very carefully, should an economic slowdown occur. Chief Executive of the NFEA, George Derbyshire, sounded positive: "In most businesses, with the right attitude and a red pen, you can cut a fair amount out of your cost line."
Other possible cost-saving solutions include switching utility suppliers to reduce outgoings.
These comments coincide with a recent study by the Society of Turnaround Professionals that revealed that UK businesses are poorly prepared to cope with an economic slowdown.
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