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The first thing that comes to mind for the average person when they hear a business is cutting costs is that workers will be laid off. In reality, however, there are many ways that small businesses can continue expanding while still reducing their overhead.

Late payment penalties are an excellent way for small business owners to encourage their clients to pay on time. They can also give business owners extra leverage when a client doesn’t pay up. BBB recommends the following tips to set your fees, communicate them to your clients, and enforce them when necessary.

Several marketing channels, including social media and video marketing, have quickly risen in popularity in recent years. However, email marketing is still one of the most cost-effective ways to reach and connect with customers. Not only does email marketing provide a potential ROI of between $36 and $44 for every $1 invested, but email automation also allows you to stay top-of-mind with your customers and drive customer loyalty. If you're still not entirely convinced of the power of email marketing, then consider some of the following statistics before jumping into how email automation can benefit your business.