The need for small business equipment management software
The key challenges to small business survival
For every startup business, the first 5 years are the most critical and determine the chances of survival in the long run. Research conducted by the Bureau of Labor Statistics shows that 50% of the business will last 5 years or more. This number reduces to a mere one third after ten years. So, what exactly are the reasons behind business failures? To answer this, National Small Business Association report points out the following difficulties, faced by firms:
- Economic Uncertainty (49%) – Inability to actively cope with unexpected changes in the coming years poses a threat to small businesses. This mostly happens because companies lack the mechanism required to deal with such situations.
- Regulatory Burdens (29%) – With the rules and regulations getting tougher every year, it becomes harder to meet the set legal requirements. Small businesses tend to suffer more as they already operate on a tight budget and cannot spare bear the overhead costs.
- Cost of Technology (9%) – Rising technology prices are likely to slow down the growth of small and medium business firms. One way to deal with this problem is to make smart technology investments with a greater rate of return.
Dealing with business failures – the way forward
While most of the issues faced by firms reflect circumstances at the macro level; the solution to such problems lies at the micro level. What this means is that companies need to start working at the very basic stage to achieve positive outcomes. Majority of the challenges can be addressed through the use of a robust cloud-based management software. Continue reading
Why news media industry need to implement equipment tracking software
The news media is one of the widespread industries in the United States. Research shows that national broadcast television news had the highest number of audience in the country with around 46% of the population tuning in. This figure widely contrasts with the 27% audience for the radio news. It was also found out that the respondents relied on various types of sources for news. These included social media, print and online publications. Because people have different preferences, the news media industry has expanded over the years to cater to the larger market.
Due to the ever-changing political scenario, the news media companies are bound to expand in the near future. How well these companies play in the market depends entirely on their business plans to capture the most number of audience. The internal structure of business management plays an important part to determine the capability to grow and adapt. Similarly, for the news media companies, it is imperative that they build effective strategies to deal with the expected expansion in the coming years.
One way to go about this is to invest in high-tech equipment. The next step would be to devise maintenance programs for all business assets. Tools like equipment tracking software let you do exactly this and much more. With the use of this software, you can optimize equipment usage and enable a productive work environment. Continue reading
This month, we’re celebrating new integrations, support for signatures on actions, and a powerful way to track equipment usage across projects. As always, our goal is to make our Asset Tracking Software the perfect fit for your organization. Read up on what’s in store for you in our latest feature release – the ‘NY Cheesecake’. Continue reading
The Cart Module in EZOfficeInventory empowers you to stay on top of your jobs and events, greatly simplifying equipment management. You can mark these jobs and events on your calendar, have a list of required equipment and inventory, collaborate as a team, and do so much more. Continue reading