Invest ‘use it or lose it’ budget into an opportunity to innovate

It’s approaching that final quarter for most businesses.

Holding a proportion of budget to cover unexpected or fluctuating costs is prudent, but it often leads to unspent budget in the final weeks of the year. All too often, the rush to off-load those remaining funds means they can result in lower returns. Using data from the US Federal Procurement Data System Research, economists Jeffrey Liebman and Neale Mahoney found that not only was there a surge in spending at the end of the year, but this spending was of lower quality. So, instead of ordering some add-ons or default to repeat-purchase options, invest in next years’ aims and objectives with some strategic review and planning methods. This will ensure the next budget achieves even more for your learners and your business performance.

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