 |
 |
|
 |
Entrepreneurial Confidence Slides Discover Small Business Watch's monthly survey of small business owners finds that, after a few months of rising expectations, their economic confidence is facing a dimmer reality.Cash-flow concerns and lower business development spending contributed to a 10-point drop in the Discover Small Business Watch index, which fell to 78.1 for the month of May. "We saw cash flow problems jump this month to their highest level in 2½ years, which is certainly not going to boost the optimism of a small business owner, especially in this economic climate," states Ryan Scully, director of Discover's business credit card. "However, for the past three months we've been recording our highest confidence levels since summer of 2008, so all is not lost." About 49 percent of survey respondents reported cash-flow issues in May, the highest number since the report launched in 2006. Nearly half of the respondents reported economic conditions for their business were worsening in May. About 57 percent think the economy is getting worse.
2 Comments |
| Posted under: Ideas, Marketing, Money, Small Biz News, Startup
2 Comments Leave a commentPrevious Posts
|
  
Select a month to view archived posts
|
Copyright © 2009 Entrepreneur.com, Inc. All rights reserved. Privacy Policy
Its a tough time but there is still room for success... A wise friend once told me, “Other than sales, what will make you successful is spending prudently. Cash is hard to come by so use it on only things that will make you grow.” The current economy serves only to reinforce this point. Here's some great information I have found on how to start a business in a tough economy with a focus on cost / save money in an existing business.
http://www.sbimonline.com/content/business-cost-savings-spending-wisely-a-critical-start-success-factor
This is an extremely tough time to start a business. I was about to be laid off last fall, so before signing a new lease and waiting for that to happen, I quit my job, moved in with my mom, and started Navare Jewelry, with only my last paycheck to invest. A few odd jobs and 37 sales later, I am about in the same boat, except with a bit more traffic in my shop. Paid advertising has been a waste for me, with word-of-mouth paying off much more. This economy and no cash flow just make us all more creative with our resources and advertising possibilities. www.navare.etsy.com