And if you’ve been watching TV, listening to the radio, reading the newspaper, or looking at the Web, you realize that the credit crisis has hit small business owners particularly hard.
So what can small business owners do to cope with the crisis? Scott Shane offers a few suggestions in this article (link will open new page):
1. Extend less credit to your customers.
2. Borrow from different sources.
3. Bootstrap, or raise equity.
4. Cut your costs.
5. Sell Assets.