Is Cash Flow Improving for Small Business?

There seems to be some good news on the horizon according to the recent Small Business Watch report from Discover.

According to the survey, small business confidence in cash flow issues edged up just a tad.

Here are some of the highlights.

  • 42 percent of small business owners say they have experienced temporary cash flow issues in the past 90 days, down from May’s record high of 49 percent.
  • 26 percent believe economic conditions are improving, up from 23 percent in May, while 57 percent believe conditions are getting worse, which is unchanged from the previous month; 14 percent said the economy is staying the same, and 4 percent weren’t sure.
  • 59 percent of small business operators rate the economy as poor, down 1 percent from May, while 8 percent rate the economy as excellent or good, and 30 percent called it fair.
  • 49 percent of owners see economic conditions for their businesses getting worse, up 1 percentage point from May; 25 percent see conditions improving, also up 1 percentage point; 22 percent say conditions are the same; and 4 percent weren’t sure.
  • 51 percent of small business owners say they plan to decrease spending on business development over the next six months, down from 53 percent in May; 22 percent plan to increase spending, and 24 percent are not planning any spending changes.

How about you? Has your confidence level increased? Please leave a comment.

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A Customer Loyalty Program Can Be A Recession Buster

Do your customers buy from you once then never return again? I have yet to meet a small business owner who doesn’t have the opportunity to get a repeat sale from a customer. But many small business owners look at it differently. If that sounds like you, it’s time to open your eyes to the possibility. It’s a good way to increase your bottom line in a tight economy like we are experiencing today. [Read more...]

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Be One In A Million Who Gets A Free Copy of The Recession Proof Business Book

Update: The book is no longer free, but it is a good read if you want to pick up a copy.

Yep. that’s right . Now, you can get your free copy of The Recession Proof Business by Vincent Cheng.

Beginning today, Cheng will be giving away 1 million copies of his book The Recession-Proof Business: Lessons from the Greatest Recession Success Stories of All Time to owners of businesses with fewer than 100 employees. If you qualify, you can hop on over to www.BailoutUSA.com, enter your name and email address and you’ll receive a link to the pdf version of the book along with an mp3 that shares highlights.

According the Cheng, while doing research of the previous 12 recessions, he found dozens of small businesses that grew dramatically during a major economic crisis. These small businesses became industry giants-UPS, Disney, Costco, Charles Schwab, FedEx and Hewlett-Packard, among others.

And they all used the same winning formula — unintentionally. They followed a few simple rules that let their business survive and prosper in a recession, while others died.

According to Cheng, “When I saw this recession-proof business formula emerge from the research for my book, I realized that I had uncovered a potential solution to the problems of millions of small business owners across the country.”

I picked up a copy of the book and it’s a quick read – 85 pages – that gives you the detail he bases his formula on. It makes sense and it’s what many of us have been saying. His four key points are:

1. There’s still money out there, but you have to go find it.
2. Base business decisions on facts, not headlines.
3. Exploit the opportunities that recessions create.
4. Adapt or die.

If you need some inspiration to continue moving forward in this economy so you can grow your business to new heights, head on over to www.BailOutUSA.com and pick up your copy of Cheng’s book.

You can get it in printed book form at amazon.com.

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