ENTREPRENEURSHIP

Detailed explanation-1: -Reduction of operating costs means the elimination of operating expenses or the avoidance of future capital replacement expenditures as a result of new equipment installed or services performed by the performance contractor.

Detailed explanation-2: -Operating expenses-also known as selling, general and administrative expenses (SG&A)-are the costs of doing business. They include rent and utilities, marketing and advertising, sales and accounting, management and administrative salaries.

Detailed explanation-3: -Fixed Costs A fixed cost is one that does not change with an increase or decrease in sales or productivity and must be paid regardless of the company’s activity or performance. For example, a manufacturing company must pay rent for factory space, regardless of how much it is producing or earning.

Detailed explanation-4: -Automate time-consuming tasks. Outsource for extra efficiency. Find a freelancer. Integrate an internship. Entertain different vendor bids. Ditch your office building. Pay your bills in advance. Put wasteful habits to rest. More items •20-Jan-2022