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Business owners seek overhead reduction

RSM Bird Cameron' thinkBIG survey has shown that business owners are being forced to keep working and delay their exit from the business.

Owners are expecting to work longer, with 19 per cent delaying their exit, whilst 70 per cent of those with an exit plan suggest they will continue to work after they leave the business.

Business owners will continue to rely on either price increases of their products and services to keep ahead or on overhead reductions to protect their margins.

Tim Wolfenden, CEO of MakeItCheaper.com.au comments: "The survey shows just how much the small business owner is being tested.  Survival often comes down to the business owner having to make sacrifices, and delaying exit from the business is a significant sacrifice.

It makes good sense that business owners are looking to cut overheads to improve their bottom line, and prevent the need for them to pass on cost increases to their customers."