Firms cut costs in face of downturn
Businesses in Hertfordshire are tackling the downturn by cutting spending, according to a new survey.
Supplier costs and marketing budgets are being reduced while IT systems are being boosted to improve efficiency.
The survey, carried out by Business Link, showed 58 per cent of businesses in the county have identified cost-cutting as essential to their survival over the next 12 months.
As a result 78 per cent are regularly reviewing contracts, rent and bills for utilities and phone calls, but almost two thirds are considering introducing an environmental policy.
Pat Smith, chief executive of Business Link in the East of England, said: "The survey demonstrates that Business Link clients in Hertfordshire are taking positive action to face the current economic challenges head on.
"Whilst the recession provides an uncertain business environment, we know that those businesses who take action early have the best possible chance of survival."
Business Link provides support and advice to companies.
For more information contact 08457 171615, CLICK HERE or call the helpline anonymously on 08453 134510.
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Wednesday 08 February 2012
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