Are You Concerned About Cash Flow?

Under Local Small Business
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Most small business owners cited cash flow (25 per cent) and sales revenue (23 per cent) as being hardest hit by the economic downturn, followed by new customer acquisition (19 per cent) and competition (19 per cent) according to a study recently conducted by Scotiabank.

The good news is that small businesses don’t seem particularly worried about these downturns.

“…the majority of business owners surveyed see light at the end of the tunnel, with more than half (52 per cent) anticipating economic recovery within the next six months to sometime next year, while another 11 per cent believe it’s already started,” says Kyle McNamara, Managing Director and Head of Small Business at Scotiabank. “Successful small business owners are accustomed to making adjustments to address challenges and capitalize on opportunities.”

Meantime, if you are concerned about your business’ cash flow, you’ll want to read my article 5 Quick Ways to Improve Your Cash Flow.

You may also want to post a comment on Scotiabank’s Unlocking Growth Centre website; you could win $5000 by posting!

Scotiabank is also seeking case studies on cash flow and other topics. The Grand Prize in the Case Studies Contest is $15,000. The contest closes September 25th, 2009. (Have a look at the sample case study they provide; creating one doesn’t look all that hard.)

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