NEW YORK — Small businesses looking for ways to increase efficiency and cut costs, should consider credit unions, a New York Times columnist advised.
In today's column, writer Paul D. Brown listed several benefits that small businesses might offer to their employees. Brown referenced an Entrepreneur magazine article that suggested joining a credit union.
"This is 'one of the most appreciated, but most overlooked,' benefits. Employees will probably 'increase their savings rates especially if you offer automatic payroll deduction, have access to lower loan rates and pay lower fees–if any–for services,'" Brown wrote citing Entrepreneur.
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Given the recession, Brown also suggested small business owners continuing to keep the lines of communications open with employees through internal newsletters and staff meetings. Instead of paying for seminars, Brown said there are resources such as the Small Business Administration that offer free online courses.
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