Small Business Owners Building Cash Bases To Prevent Demise
Written by Ken Gaebler
Small business owners believe saving cash is the best way prevent their business from struggling as the global economy recovers.
The Brother Small Business Survey, conducted by the Brother International Corporation in conjunction with Wakefield Research from January 19 through January 27, found that small business owners believe developing cash bases is the best way to offset the effects of a still-recovering global economy.
Seventy-nine percent of respondents indicated that increasing company efficiency is in their financial plan this year. Eliminating unnecessary spending and investing in products that are reliable and long-lasting rank as the most popular ways to achieve efficiency among the respondents.
"Small business owners are feeling extremely anxious about the economy and their business, so they are stockpiling their cash now to help guarantee they can survive the economic downturn and best position themselves for long-term success," said John Wandishin, senior director of product marketing and marketing communications for Brother International Corporation.
Perhaps the worst news for small business owners in the survey was the indication that stress levels have increased greatly. Fifty-one percent of respondents said that stress related to their business is higher than ever. The Maryland Gazette advised area small business owners last week that facing problems head on is the best way to reduce stress related to running a small business.
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