09 Jan HOW DO COMPANIES FACE INCREASED FEES AND TAXES?
By extrapolating the conditions of companies in the Kingdom of Saudi Arabia, ADP Law believes that many companies and institutions mishandle the business during a financial crisis on their entity in particular or a general one that affects a country or a region. Therefore, Corporate Solutions team in ADP Law has brought together a number of solutions for commercial entities to reduce spending while preserve, as much as possible, their financial and human capital. Here are the means and solutions that our team reached to:
1. Look for resources that are wasted or not used, either used or abandoned. For example: renting a part of the office space.
2. Introducing additional activity that existing employees can cover it or they join it as a partner.
3. Merging or incorporating new partners.
4. Increase efficiency by reviewing the work of employees and how to measure their performance with a focus on the effectiveness and impact on the company’s performance (there are available and used measurement tools) to focus on the skills and opportunities that increase the group’s productivity in the short term.
5. The renegotiation of financing contracts depends on the expected financial impact on the company, which is mandatory for the company after fees and taxes. (depending on the skill of the negotiator as well).
6. Hire sales representatives to look for additional customers.
7. Intensify ads in various ways. It was possible to bring these together, but your involvement is essential to the topic.