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When cutting costs, hands off the doughnuts

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in Small Business Tax,Small Business Tax Deduction Strategies

Faced with high fuel costs, slow-paying customers and a 5% jump in the interest rate on its credit line, Quality Environmental Professionals Inc., an Indianapolis environmental consulting firm, scrambled to find ways to cut costs without laying off staff.

According to a report in Business Insurance, CEO Deb Peters asked some of her 33 employees to mow the lawn and perform other maintenance chores, saving $7,000. She switched the ink on the company letterhead to black instead of color, saving another $7,000.

But when she tried to cut into the doughnut budget, employees balked. Employees offered to work an extra hour or two each week to ensure the continued flow of doughnuts, bottled water and vanilla coffee creamer into their offices.

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