Freight Factoring News: Survival Instincts: American Small Businesses Doing What It Takes.

Factor Your Freight Fast with TruckingFactor.com






Today:

It’s Never Been Easier to Get Cash for Your Invoices!

  • Convert Your Invoices to Cash
  • Same Day Funding
  • Easy Application Process
  • Little or No Business History Welcome
  • Distressed Credit Welcome
  • Small Trucking Companies Welcome
  • Freight Brokers Welcome
  • No Long Term Contract

 

 

 


Survival Instincts:
American Small Businesses Doing What It Takes

For all businesses, being resourceful is essential when costs rise. With the current economic conditions, many companies are finding creative ways to deal with rising costs. At the top of this list is the cost of energy and fuel. In an April survey, American Express found that 86 percent of small-business owners are feeling the effects of higher energy and gas costs.

Many business owners are using this lull in the economy to closely assess their costs and cash flow. In lean times, savvy business owners make management improvements that they have thought about for years. Discipline and resourcefulness established in difficult periods can help give business owners the tools they need to maintain their business over in the long term. Simple, but meaningful, strategies can make a big difference to the bottom line: Reviewing/revising budgets, and sticking to them; Outsourcing (payroll, accounting, HR, IT); Getting receivables in line (TruckingFactor.com can help with that); Cutting postage and overnight fees by sending document via email; Buying used equipment for non-critical tasks.

Since approximately fifty percent of every dollar in the economy is generated by cash-starved small businesses, their effects can be felt throughout the economy. If they are unprepared and their operating expenses go up, they may not be able to pass along these costs quickly enough to keep their cash flow positive. Without proper planning and some outside help, very few small businesses have large enough cash reserves to ride out a recession.

In an increasingly competitive global marketplace, small business owners shouldn’t take anything for granted. Entrepreneurs should always be looking at ways to stay lean and efficient. No matter the size of the company, it should be a part of the “corporate culture.”

Related Articles:
Solutions for Small Business Bankers
Small Business Optimism
Small Businesses Can Face Economic Downturns With Confidence

Return to: Freight Factoring & Small Business News from TruckingFactor.com

 

Terms of Use  |  Privacy Statement© 2008 TruckingFactor.com. All rights reserved