What happens when costs such as “rent”, “utilities” and “property taxes” increase from year-to-year, but your revenue fluctuates?
Periods of short-term declining net profits or even deficits may ensue.
But your creditors need to be paid regardless and it’s therefore important to cover for these leaner times!
Reducing staff numbers maybe a short-term fix, but this can be at the expense of long-term growth.
When new projects arise having skilled, reliable workers on hand is essential.
Sub-leasing your spare desks to freelancers allows you to earn extra income while keeping a pool of skilled workers on stand-by.