It is estimated that 20% of all businesses fail in their first year of operation. By the 5thyear, that number jumps to 50%. There are many factors that go into running a successful business, but one that entrepreneurs must take note of is the importance of proper planning and execution of ideas. In other words, having standard operating procedures is a must. In this article, we will discuss the importance of having a SOP, it’s benefits, and how to create one.
As businesses become more competitive, the need to find ways to stay one step ahead is critical. One way to increase odds of success is by taking advantage of all the resources available to you. Why reinvent the wheel, when someone has already done the hardwork, and used their tools and templates as part of a successful business.
The employment landscape is dynamic, and there is an increasing demand for qualified workers across different industries to work for short term periods. What you don't know is that it is possible your labour hire provider could be exposing you to fines up to $500,000 by not following some simple rules. Read on to find out more.