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How to curb the liabilities of a business
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[QUOTE="Mika, post: 229274, member: 29399"] In order to control your business liabilities, you will have to do a couple of things. Cut your running cost: If your business-related expenses are really high, you will incur liabilities. Therefore, you will have to start controlling your business's running costs. You can start by cutting your staff. Overstaffing is one of the major issues for many businesses. Instead of having 10 workers working for 8 hours a day, why not have 8 workers working 10 hours a day? Use a small office space: Office rents also cost a lot of money and it can be one of the biggest liabilities for a business. In order to cut the cost, you can use small office space if you know how to manage physical space. Switch to online working: During the covid pandemic, a lot of businesses switched to remote working. Interestingly it was found that a lot of work can be actually done remotely and there was absolutely not necessary to work physically. See, if you can switch to remote working. If your entire business cannot be converted to remote working, you can at least try to come up with a plan to convert some jobs to remote workring. Virtual assistants can also come handy [/QUOTE]
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