Office Leases & Entertainment Budgets cut Worldwide
Below are the full results from the Servcorp International Business Cost Cutting Survey which was conducted in mid 2009 over a period of two weeks. The survey was commissioned to understand the areas where businesses were looking to save money in the economic downturn. The UK is ranked 3rd in office cutbacks globally.
As part of the survey, Servcorp asked 7,500 international businesspeople from more than 24 nations to identify which countries they believe are surviving the crisis the best.
Office and Administration Cutbacks
The countries which have made the most cutbacks to their combined office lease and office admin costs (ranked form most to least)
| Rank | Country |
| 1st | United States |
| 2nd | China |
| 3rd equal | United Kingdom and Hong Kong |
| 5th | Australia |
| 6th | Singapore |
| 7th equal | Japan |
Areas where the most cutbacks have been made:
Areas of International Cutbacks
The areas where businesses have had to make the most cutbacks averaged across the globe
| Rank | Cutback area |
| 1 | Entertaining and social activity |
| 2 | Office leases |
| 3 | Office administration costs (stationary, newspapers, equipment) |
| 4 | IT costs |
| 5 | Senior staff cuts |
| 6 | Working hours (retaining staff) |
| 7 | Junior staff cuts |
Small Business VS. Big Business
What areas have small businesses made cutbacks compared to larger businesses?
| Cutback area | % of small businesses who made this cutback | % of large businesses who made this cutback |
| Senior staff job losses | 7.6% | 12.5% |
| Junior staff job losses | 6.6% | 8.3% |
| General staff job losses | 11.7% | 29.2% |
| We have retained staff but have cut back our working hours (e.g. to four day working weeks) | 8.6% | 0.0% |
| Cut IT costs | 11.7% | 20.8% |
| Cut Office lease costs | 26.4% | 33.3% |
| Cut Office admin costs (e.g. stationary, newspaper subscriptions etc) | 23.9% | 37.5% |
| Decreased entertaining and social activity costs | 34.5% | 54.2% |
[ Article Source: ServCorp ]
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