What do you do when sales are down and your credit’s been slashed? You rethink your business.
Because of the ongoing credit crisis, banks are becoming even more reluctant to extend lines of credit to small-business owners. And the sluggish conditions aren’t expected to improve any time soon. That means business owners who rely on banks to finance everything from inventory and office equipment purchases to new store expansions are left scrambling for ways to stay afloat without a lifeline.
Here are five tactics to help keep your dwindling business capital flowing:
• Slash Expenses
• Eliminate Unprofitable Operations
• Seek Alternative Funding
• Embrace Incentives
• Cut Production Costs
Photo by KillR-B.
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