Sometimes it can seem like the odds are stacked against small retail businesses. Large retailers have buying power, big budgets and visible main street presence. Here's how you can level the playing field.
CHOOSING THE BEST RETAIL STRATEGY
Competing with big retailers can be a daunting task, especially if you're new to business. Your competitors already have an established customer base, solid marketing campaigns, good store locations and well-trained staff.
How can you compete with all of that? Well, there are two main options when it comes to competing with bigger businesses – you can try to emulate what they do, or you can do things differently.
A business bank account is an essential requirement for any business. But with so many banking providers out there, how do you know which business account to choose?
The key is to know what you require from a bank account, and to choose a bank that understands the banking, financial and funding needs of your business.
Choosing an account that fits your business needs whether you’re a new sole trader or an established limited company, it’s advisable to maintain a clear divide between your personal and business money. So it’s vital to open a business bank account, giving you a separate account to handle your business transactions.
The reality of automation is closer than we think. In fact, it’s already here.
61% of Malaysians said in a poll that they’ve already felt the effects of automation in their jobs. That figure tops even Singapore, Hong Kong, China and Japan!