Archive for small business trends
Ways to Reduce Employee Theft
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Unfortunately, during a recession, employee theft increases in various small businesses. Employees become desperate and make the wrong decisions. Therefore, as a small business owner you need to be prepared and prevent employee theft from occurring in your store. Here are a few things to look out for ensuring you do not lose money due to criminal activity.
Watch Your Receipts
Have you noticed more sale voids with specific employees who are not in training mode? Do their average voids exceed the norm of other employee shifts? You need to pay attention for employees may be using voids as a way to keep your money. For instance, if a customer pays $10.00 for a specific item and the sale is void. Then the same customer is charged $8.00 for the exact purchase, your employee may be pocketing the difference. Just be aware of the receipt situation and make sure no one is using receipts as a method to steal money from you.
Count the Register
Some employees that attempt theft will pocket petty cash or change. They may choose to do so a little at a time thinking it will not be a noticeable amount. However, every penny makes a difference. It takes away from your financing and operating costs. Hence, you need to accurately count register cash prior and after shifts.
The most important thing is to remember not to jump to any conclusions. The majority of employees are honest, dependable, and trustworthy people. Otherwise, you would not have hired them in the first place. It is solely smart to take notice of what is occurring during daily business activities. It will save you money and provide you with peace of mind in the end.
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Top 3 Small Business Trends for 2010
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There are small business trends that shall occur in 2010, which experts agree upon across the board. Here is an outline of a few of them to keep in mind while going forward.
Think About Senior Citizens
Any service that handles aging health issues, prevention and care will continue to rise in 2010. For instance, vision correction surgeries, cosmetic treatments, and technical assistance provided for elderly care are going to be very profitable businesses in the upcoming year. This is great news for those already involved in this industry. If you are not in a service directly linked to the aging population, then think about what products you would be able to provide for this target market. It will be the way to go.
Go Green
There is something to be said for “going green” and it does not have to solely do with the environment. “Going green” is a financially successful industry, even during a recession. There are many government incentives enabling companies to implement clean energy encouraging a rise in businesses in discovering renewable energy, and shall do very well in the years to come. “Going Green” is something small businesses need to think about when remodeling business plans.
Pets Come First
Regardless of cutting back expenses on ourselves, it seems people are not cutting spending on their pets. The pet industry is the one industry not affected from the recession and this is a worldwide phenomenon. In America, according to the American Pet Products Association, total pet spending in 2008 topped at $43 billion. In 2009, the approximate figure is $45.4 billion. In 2010, the numbers shall increase. Thus, start thinking about how your small business is able to benefit too.
