‘[tweetmeme source=”RoseA_smallbiz” only_single=false]’ I found this featured company at SunSentinel.Com where it stressed out how important is conservative spending in order for a business to survive especially in this tough times of the economy.

 

In an economy where the outlook is dim for some businesses, the future looks bright for Chauvet.

Revenues for 2008 are projected to rise 25 percent from 2007, said Albert J. Chauvet Jr. He and his wife, Berenice, own the Hollywood-based specialty LED lighting products company that recently broke ground on a 65,000-square-foot headquarters in Sunrise. Albert Chauvet said his company’s growth is based on careful study of the industry, conservative spending and affordable products.

The current 10,000-square-foot headquarters is crammed with marketing and administrative offices. The firm leases two other warehouses for a total of 35,000 square feet. The move will allow them to consolidate and streamline shipping and warehousing.

Careful spending and meticulous planning are practices Chauvet implemented when he originally acquired his lighting business in 1990. Back then, the company sold only rope lighting. “That’s as basic as it gets,” he said.

But extravagant spending by previous management had sent the company spiraling. Chauvet cut travel expenses, participation in trade shows and entertainment. Chauvet has about 70 employees, which creates an obligation to be fiscally responsible, he said. “We’re very conservative,” he said. “It’s only last year I paid myself a bonus.”

 

However, I got some little concern for the employees. As you can read on his last statement above which I quoted is that it was only last year he paid himself a bonus? I hope he’s only pertaining to himself and not to all employees working diligently for him and his business. But of course, I would like to commend that idea of cutting travel expenses. It is definitely a wise move especially with our situation today that almost everyone and everything is accessible online.