How to reduce ‘wastage’ in your small business

I was recently introduced to the term “wastage” in the context of running a business, and it prompted me to analyse the areas of my business where I may be experiencing or even creating wastage. Wastage basically means any areas where you have “inefficiencies in processes or practices… which can erode a business’ profits, negatively affect productivity and efficiency, and detract from a business’ sustainability”.Continue reading