Tag Archive | “Small Business Survival”

Tough Survival Challenges For Small Business Owners

Tags: , , , , ,


In this time of economic turmoil, it seems that almost everyone is being affected by feeling the pain of the credit crunch. Starting from worker class to national government, its hard to obtain loans that were easily available last year. In times like these, small business owners were especially overlooked.

clip_image001

In order for businesses to boom, financing is required. However, Small entrepreneurs and business owners lack proper financing. Initially every small or big business requires start-up costs. Apart from this, there has to be adequate money to keep the business running until it achieves stability (or profitability – which may take several years). Smaller businesses are the main sufferers of current situation, where banks and lenders are hardly giving away loans. This current scenario is a challenge to small business owners, but the question remains….What can they do?

Recently, a record number of small business loans were declined – the Small Business Administration approved 28,000 fewer loans in 2008 – owners are spending their retirement funds, savings and reaching their credit card peak in order continue running their businesses. Read the full story

 

August 2011
M T W T F S S
« Jul    
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31  

Archives