For many of us, the last few years of business have probably been tough. Sales have slowed, consumer confidence is still low and profits seem to be eroding. Perhaps it’s time to take a good look at your break even point.
A break even point can be defined as when your expenses and revenue are equal. Meaning you’re not making a loss, but you’re also not making a profit. Most businesses will look at their break even point (BEP) and work out a strategy to achieve over and above that point in order to return a profit. Continue Reading