Downturn impacts 90% of small business
New survey by the Credit Research Foundation shows business shifting focus from driving revenue to preserving cash flow.
Details:
- 90% report that the economy has had a direct negative effect on their business, up from 77% in November 2008
- 44% report that they have shifted their focus on revenue and market share to cash flow and profitability, up from 30% in November 2008
- 81% say their customers are experiencing tightening of bank financing, up from 68% in November 2008
- 65% report that they are experiencing a slowdown in customer payments
Posted at November 19, 2009
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