A leading business information provider says although the drop in the number of businesses going bust is only half a percentage point- it’s an important indicator of how businesses are coping in tough economic times.
Businesses have had to be really savvy during the credit crunch, cutting costs and improving operational management have all been ways companies have streamlined to ride out the financial storm.
Nic Beishon, Head of Equifax business information provider says “UK businesses must, therefore, continue to take the right precautions to protect themselves from some of the risks of the continuing difficult trading conditions.”
Another great way businesses can monitor employees spending more closely is by taking out a prepaid credit card.
This way only a certain amount of money is put onto the card and once it’s gone, it’s gone.
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