The Bread Box-Blog

30
Apr

Small business revenue

Outsourcing: a Cure for Small Business Revenue Ills

Looking at small business revenue is a way of looking at the state of the economy as a whole. A national survey revealed how small businesses are faring.

Survey Reveals Small Business Revenue Troubles

On Tuesday, April 11th, the New York Fed reported that U.S. small businesses are expected to have stronger revenue this year with many anticipating new hires. In a national survey of 16,000 firms with fewer than 500 employees, approximately 40 percent of companies planned to expand their workforce. More than 60 percent of survey respondents stated that they anticipate more revenue in 2017 than last year. Unfortunately, the results of the survey were not wholeheartedly positive. This comprehensive survey revealed that there are serious problems plaguing small businesses, particularly companies with less than one million dollars in annual revenue. This bracket comprised 70 percent of the survey sample. Two-thirds of these firms stated that they face inadequate financing and, thus, the threat of failure. A staggering 25 percent of respondents had previously used personal funds to keep their business afloat.

Thinking outside the Box is Key

Small business must think outside the box and find innovative solutions to their financial problems. One way in which small companies strapped for cash can maximize their existing funds is by reducing costs. Simplifying complex supply chains by strategically outsourcing certain production-related activities can help smaller firms cut costs.

Small Business Revenue: Baker’s Pride can Help

Baker’s Pride enables in-store bakeries to execute on this strategy of cost reduction. By outsourcing their baking needs, companies can drastically decrease their labor, maintenance, and distribution costs.  Supermarket chains, convenience stores, and other companies in the food service industry rely on Baker’s Pride not only for quality baked goods, but also for commercial products for private labeling and branding needs. Baker’s Pride may be the innovative solution to your business’ critical needs.To learn more, visit our homepage or contact us today!