Recession Tips for Small Business
December 16, 2008
Small business expert Barry Moltz recently offered eight tips to help businesses stay afloat during a recession.
I’ll paraphrase them below, you can visit the full article for all the details:
- Focus on Profitability over Growth
- Focus on Cash Flow over Sales
- Utilize Lines of Credit, Before they Disappear
- Challenge Assumptions About Your Business
- Cut Costs Now
- Ignore the Stock Market Performance
- Endure – This Economic Cycle Will Pass
Free Financial Management for Small Business Course
December 7, 2008
SCORE and Visa have created a free online financial management course for small businesses.
The course is broken down into several main areas:
- Income
- Expenses
- Emergency Strategies
- Funding Options
- Accounting Principles & Methods
You can download the workbook to use as you go through the course. Here’s how they describe the online course:
“That’s why every decision you make in your business—whether it’s creating a website, investing in classified ads, or hiring an employee—has a financial impact. And each business decision affects your cash flow—the amount of money that comes in and goes out of your business.
We’ll help you with your decision-making with this online primer. Throughout this guide, you’ll find case-studies, examples, and expert guidance on every aspect of small business finances. You’ll see that our goal is the same as yours—to make your business financially successful.”
You can go through the course at your own pace and skip over topic areas that you already feel comfortable enough with in your business – check out the free small business finance course.
