Choosing a Pricing Strategy for a Small Business
Setting prices is one of the hardest calls a small business owner makes. Charge too little and you work hard for very thin returns. Charge too much and customers may look elsewhere. The good news is that pricing does not have to be guesswork.
This guide walks through a simple process for setting prices, based on government guidance for small business. It covers working out your costs, the main pricing strategies and the legal rules to keep in mind. It also looks at how often to review what you charge. The ideas apply to online stores and service businesses alike.
