The credit crunch has hit us globally which leads us more difficult to do business no matter which sector we are in. In order to lower the costs but increase the profit at the same time, finding alternative supplier or seller has moved up to the table today. Are there any other choices we can pick to beat the credit crunch? Do we want to survive under the crisis? The answer is always 'yes'.
Nowadays, global economy has encountered the worst day in the world. Almost all of the business are finding difficult to operate or maintain their performance under the crisis of credit crunch. The only goal we want to achieve is cutting costs but maximise the profit at the same time. To cut the costs on one hand, what we do are similar as get rid of our employees, lower the costs of sale and reduction of the business etc. On the other hand, to maximise the profit, it is always the favour to increase the sales prices which is almost impossible in this stage, but for alternative, we may try to negotiate the prices with our supplier in order to maintain or work something out with the profit margin. But how, how are we going to do such things when everybody has got the same problem as we do.
Local suppliers have always been the first choice for us to supply our products, because products from them could be trust and reliable on quality. But who could we rely to burst our profit today when consumers seek to buy products with lower prices instead of better quality? We then have to find somewhere else to get the products and try to lower the cost of sale for sure. Importing goods from other countries was not a good idea before because of the relevant taxes and process. But countries as China, India and Thailand are always the places where we could locate more products in lower prices compare to our locals. Furthermore, governments have provided support with lower taxes in order to increase the opportunities as many as possible for all business. The only thing we have to work out is whether we could still possible to generate profit after importing products from these countries. But hey, that is the job your employees should do for you, right?
It's shame to say we relied on prices instead of the quality today, but what business care is always the customers at the end of the day.
