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Get to grips with budgets by A & C Black Publishers

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4 Keeping on top of costs

The basic idea behind a successful business is that you earn more than you spend. One way to boost your profits is to increase the sales of your business, but you can also do it by cutting down on your outgoings. A business that keeps its costs under control will have more funds for growth in the good times and will also be in a better position to survive rainy days. This chapter gives some suggestions on ways to control (and in some cases, reduce) costs at work.

Step one: Work out which costs you need to control

Before you can control your costs, you need to know exactly what they are.

image Start by identifying each cost ...

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