Cash flow issues starting to hurt small businesses
November 8, 2008 by ShannonCherry
Filed under Entrepreneurship, Leadership
More than half of current small business owners are having some cash flow problems. That’s according to the most recent American Express small business survey of 768 owners of small businesses, defined by companies with fewer than 100 employees.
And unlike other surveys, more than a third are feeling the pinch of a tightening economy. So what are they going to do about it?
Those responding to the survey said they will be accepting lower margins on sales, work longer hours, as well as cut capital and marketing expenses in the near future.
Maintaining current business and sources of revenue (35 percent of respondents) has replaced growth (29 percent) as the number one priority of business owners.
I just celebrated my first year in business and this sucks! I’m hanging on by my finger nails! Fortunately, for an e-commerce and supplying a niche market, I am hoping to survive if not benefit from this ‘pot hole’ in the road.
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