Downtime is the enemy of any business, but it can be especially costly in the manufacturing industry. Not only does downtime mean lost profits, but it can also result in protracted customer service issues. That’s why every manufacturer should do everything they can to decrease downtime and ensure that production stays up and running. So,
Short-term rentals are becoming a massive trend in the United States. Currently, the market is expected to grow by about 20%. Three main reasons accompany the growth: The Pandemic When the pandemic hit the world, people began to stay home more. Everyone wants to stay safe and healthy during this time. Therefore, travel has become less
According to Statista, the pharmaceutical industry had a revenue of $1.42 trillion in 2021 alone. For this reason, many are opting to invest in the sector and start their own pharmaceutical companies. However, starting one is no small feat. It requires a unique set of skills and knowledge to understand the complex regulations and ever-evolving technology
The path of an entrepreneur is often filled with challenges, but it can also be enriching. According to a study by the Kauffman Foundation, only about 3 percent of businesses in the United States are started by immigrants, and women initiate even fewer. The same survey found that immigrant-owned companies are more likely to survive
When it comes to running a business, there is no one-size-fits-all solution. The type of vehicle you need for your business will depend on a number of factors, including the size and scope of your operation. Read about the different types of vehicles that are available for businesses here, and consider which is best suited for
As a business owner or entrepreneur, you may have encountered the problem of high business absenteeism. This can be frustrating and costly, leading to lower employee productivity and morale. You can lose about $2,000 to $3,600 per absent employee at work annually. So if you have an absent employee for even a few days, it can be
A failure rate of 18% for businesses in their first year and 50% after five years is bleak, but it doesn’t have to mean the end for your business. If your business is struggling, don’t give up hope. Sometimes all a failing business needs is a little cash infusion to cover some upgrades. If your business
Your workspace can have a profound impact on your productivity, focus, and overall performance. A cluttered, uncomfortable, or uninspiring workspace can lead to distraction and a decrease in motivation. On the other hand, a well-organized, comfortable, and aesthetically pleasing workspace can help you feel more focused and motivated, leading to improved performance. No matter what
As a small business owner, you know how difficult it can be to keep your company on track. There are so many things that need to be done, and sometimes it feels like there aren’t enough hours in the day to get everything done. You may have considered hiring a business consultant for help with
Customer feedback and queries are an essential part of any business. It is a way for businesses to understand what their customers want and need. It also allows businesses to improve their products or services. But receiving customer feedback and queries can be overwhelming, especially for small businesses. So, how can you manage customer feedback