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    2 Replies Latest reply on Nov 12, 2008 3:34 PM by Lighthouse24

    Challenges facing  for small business owners

    HarmikBurbank Wayfarer

       

      What are some of the challenges small businesses are facing in this sluggish economy. What would you cut down on to keep overhead low?

       


      Thanks

       

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        • Re: Challenges facing  for small business owners
          jay2maui Wayfarer
          it is extremely hard for a small business to reach ito the VCR pool of money. however, we take small companies public onto the OTCBB where all companies from a start-up to established all have an opportunity to reach into the equity markets at very reasonable terms.
          • Re: Challenges facing  for small business owners
            Lighthouse24 Ranger

            The challenges, simply stated: Revenues are decreasing, costs are increasing.

            What would I cut? Well, I think I've been running a tight ship, so there is really NOT anything to cut. The "fortunate" thing (for lack of a better word) is that I thought this might happen, so I've managed things very conservatively for the past three years (to ensure we'd have operating capital and access to at least some credit to see us through if things got tight).

            Many small start-ups that are less than three years old never got a chance to "stabilize" like that, so I really feel for them -- and I feel for established businesses that decided to expand when things were booming, only to complete the expansion just in time to see the bottom drop out of their sales. I hope for their sake that things get back on track soon.