4 ways sole traders can reduce costs and protect their profitability

In this article, Chris Matenaers from Cromwell takes a closer look at how sole traders can reduce costs and protect profitability.

Working as a sole trader has lots of advantages: you get to pick and choose your jobs, you don't have to worry about the responsibilities of being an employer, and you get to retain all the fruits of your labour. However, because you are your own business, it falls squarely to you to make sure that your jobs are returning a profit and that you're protecting your trade from pitfalls.

Putting aside some time to evaluate all the aspects of your work can often reveal ways in which you can cut costs without reducing the quality of your work, as well as safeguard against potential losses.