Many companies are turning to small business loans these days in an effort to keep their doors open. Over the past year, there has been a flurry of announcements from retailers that they are either closing stores, slowing expansion plans or ceasing operations altogether.
We have recently seen how the big three automakers General Motors, Ford and Chrysler have been affected by the downturn in the economy and what they intend to do. They are now scratching and clawing for a government funded loan (bailout) to keep the doors open and the sinking business afloat.
As a wife of a self employed husband and prior small business owner, I can understand the burden that is involved with trying to keep a business going. Some people are turning to loans and many are restructuring their businesses. On-line sales companies in attempt to get more business are implementing credit processing ability.
Right now smart consumers and business owners are taking an evaluation of their lives and businesses to see what if anything can be done to help them survive these economic times. Restructuring will be a very fundamental tool in the difference between those who sink or swim.
Monday, December 15, 2008
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