Cash Flow

Owners of small businesses in North Carolina were recently given advice on how to cope through the economic crisis.

Earlier this week, the Charlotte Chamber of Commerce held a "Survive and Thrive" seminar, where various business leaders gathered to share their ideas on successfully sustaining their organization amid the ongoing the credit crunch tightens.

Zbigniew Habas, founder of Stone Master, said, "When I started the business three years ago, I'd be lying if I said I knew what was coming."

With next year on the horizon, small business owners have been given a number of tips on how to ensure they have a successful 2009.

In SCORE's Counselors to America's Small Business report, such organizations are advised to take steps to focus on the areas of their businesses that they have a firm control over and from there look to cut costs wherever possible, the Cherry Hill Courier Post reports.

Small businesses are increasingly struggling to manage the rising cost of health insurance, it has been reported.

In a Wall Street Journal article, it was claimed that such firms are set to be hit hard by major rises in premiums rate as they head into 2009.

The publication points out that such rises "couldn't come at a worse time", as the overall economic situation weakens and accessing lines of credit becomes more difficult.

A significant number of small business owners believe the prospects of starting up and running an organization are less than favorable, it has been reported.

In research conducted by the Small Business & Entrepreneurship (SBE) Council, it was revealed that more than half (57 percent) of small business owners believe that the American Dream of creating - and going on to expand - a business is currently on 'life support.'

Meanwhile, 36 percent believe that the ability to do this remains 'alive and well.'

As the credit crisis continues to make its presence felt on American firms, an increasing number of owners of small businesses are reportedly looking to cut their costs.

Rising numbers of small businesses are considering outsourcing as a means of getting to grips with cash flow and sustaining a healthy bottom line, CNN Money reports.

As small businesses find access to lines of credit from banks drying up, firms are reportedly looking to alternate means of borrowing in order to sustain their organization.

Small businesses in Utah are increasingly struggling, it has been reported.

In the Zions Bank Small Business Index, the outlook for small firms in the western state was shown to have fallen to 84.0 by the end of October, Deseret News reports.

Such a figure represents a decline from the revised score of 85.4 noted in September and is also the lowest number recorded since 1991.

Although owners of small businesses may be feeling the pinch of the credit crunch, there are a number of steps they can take to survive.

Such is the assertion of Marc Compeau, where in an article for Forbes.com he reveals that a number of small firms across America are taking steps to improve their working practices and perform more effectively.

A significant drop in confidence among small businesses in Arizona has been noted.

Research carried out by O'Neil Associates for the Arizona Small Business Association has revealed that 45 percent of firms in the state believe their profits are currently below those made last year.

Meanwhile, 29 percent think takings have stayed about the same, with 26 percent stating they have seen an increase.

Director of O'Neil Associates Michael O'Neil said, "Just about every single hard economic indicator is negative."

As the economic crisis continues, a significant number of businesses are looking to change their planned salary increases for the 2009 fiscal year, it has been revealed.

Research conducted by Buck Consultants reveals that typical pay rises for non-exempt and non-management professionals stands at 2.98 percent with this rising to 4.1 percent for CEOs.

Overall, a total of 314 companies were questioned.