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Benchmarking
Most of us like to know how we compare against other competitors. How can you actually achieve this?
One of the most effective ways to undertake this is by using benchmarking.
What is benchmarking?
MP+ have access to a wide range of financial resources that enable us to ascertain the key statistics, margins and ratio’s for a large number of industries. This information is drawn from a large number of owner managed businesses as well as other sources, all on a confidential basis.
This allows us to compare your business against the rest of the industry to identify areas that you are doing better than others and areas that you could improve upon.
Once you’ve identified these areas, then you should consider the actions you need to undertake to impact your own business performance. We are able to assist you in identifying and formulating those actions.
We provide an informative and comprehensive report for your relative industry and can also incorporate your own business figures directly into that report so you have a clear indication of where you need to focus.
To use benchmarking and formulate actions that will give you a competitive edge – contact us here.