Simona Cavel’s article, “Slump Batters Small Business” outlines the struggles many businesses are experiencing.
“For many small businesses across the country, these are scary times. The dramatic pullback in consumer spending is only the latest blow threatening to push some strapped small businesses out of existence. Customers are paying their bills late, cutting off cash flow, the lifeblood of a small business. Even healthy companies are being choked by the lack of credit lines and bank loans. Others are still reeling from several years of high raw-materials prices.”
January is going to be an interesting month because many individuals and businesses have held on through the holiday season hoping to reach the other end. The other side one way or another is going to be January. Consumers will evaluate and revamp their behaviors given the economic circumstances. A meal at a restaurant is ultimately a discretionary spending decision. Businesses will review their financials this week and say “it’s over I have nothing left to continue”, others will map out strategies to survive into the spring, all will be fearful of the unknown. Still others will launch into those raging seas of uncertainty.
