Tag: SME Productivity

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July 15, 2026

10 PROVEN STRATEGIES TO SLASH HIGH OPERATING COSTS FOR SMALL BUSINESSES

High operating costs can pose significant challenges for small businesses, impacting their profitability and sustainability. Several common causes contribute to these high expenses: · Labor Costs: Wages, salaries, benefits, and payroll taxes can account for a significant portion of operating expenses. Hiring and retaining qualified employees, providing competitive wages, and offering benefits can all contribute to

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July 15, 2026

AUTOMATION AND THE RISE OF AI. SHOULD SMALL BUSINESS OWNERS BE SCARED?

As technological advances continue to reshape the business landscape, it’s understandable that concerns about job displacement by artificial intelligence (AI) and automation are on the rise. However, rather than viewing these innovations as threats, business owners should see them as powerful allies that can drive growth, efficiency, and innovation. Embracing AI and automation can open

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July 15, 2026

What Founders Must Know Before Setting Up a Board for Their Businesses

Sometime last week, I missed a call from one of my close entrepreneur friends, Gboye. Knowing he rarely calls without a very important reason, I returned the call immediately. “Hey Gboye, what’s up?” I asked. “Sola, it’s time to set up my Board. I need your input. I know you’ve successfully put one in place

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July 15, 2026

Unveiling Business Lessons from the Story of the Chinese Bamboo Tree

Embarking on the journey of entrepreneurship is akin to boarding a roller coaster ride, replete with dizzying highs and daunting lows. At different instances, most entrepreneurs feel like quitting. When you find yourself wondering why you left paid employment to pursue this “riskier” path to financial freedom, always recall that this is not peculiar to

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July 15, 2026

WHY YOU MUST GIVE GREAT CUSTOMER SERVICE IN YOUR SMALL BUSINESS

In today’s competitive business environment, small businesses face the challenge of standing out and maintaining a loyal customer base. While marketing strategies and product quality are crucial, one of the most significant factors that can set a small business apart is excellent customer service. Great customer service is not just a nice-to-have; it’s a critical

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