Every business establishment these days are into cost cutting measures. This is especially that the financial crisis is happening to each and every business sector. Trying to spend less to run an organization is an age old trick in the book to let an establishment survive the hard times. In a recent study conducted by Oxford Economics and Perceptive Insight on behalf of InterTradeIreland showed that one in three businesses changed electricity provider in the final quarter of 2010.
The examination showed that 59% are experiencing increasing cost in transportation, 57% indicating they are incurring more on rates and taxes and a staggering 69% of businesses are having a rise in energy cost. In their summary, for trade operating from North to South, 82% of these industries don’t expect any decrease in operational cost for the next 12 months. This is one of the factors why they are trying to find ways and means to save as early as now on their expenses.
The study involved 1,000 business managers across Ireland and revealed that international cost pressures are proving to be more difficult for the trading environment. On the employment side, only one in 20 businesses said they have increased their staffing numbers which can only be equivalent to 5%.
It is really sad to know that businesses are trying to increase revenue in every way possible but also creates a jobless opportunity for the people.
