5 tips for business sustainability

You can sustain your business long-term if you apply these tips in your organization!

Medium and small enterprises are vulnerable and can be impacted severely by external shocks such as COVID-19 quickly. But with the right systematic approaches, you can fare these challenges better. Today, The Lab will share 5 tips on developing these systematic approaches.

• Record your daily income and expense data regularly

• Record your personal expenses and business expenses separately

• Plan for budgeting, which is planning for the amount of money that will be used and the amount that will be earned monthly and yearly.

• Review your income and expenses monthly to see if it aligns with your budget

• Consult with organizations or individuals with expertise in business sustainability