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business advisory

What To Do When Your Costs Go Up And Your Prices Cannot

Your supplier lifted their prices in March. You did not lift yours. Six months on, the profit has gone and you cannot point to where. Five things worth checking before you raise a price.

What To Do When Your Costs Go Up And Your Prices Cannot Your supplier lifted their prices in March. You did not lift yours. Six months on, the profit has gone and you cannot point to where. You are not alone in that. When the ABS surveyed Australian businesses in May, 48% said they had absorbed their cost increases. Only 11% put their prices up. Why This Happens Nobody decides to absorb a…

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