Networking in an economic downturn

Weathering the recession will necessitate business owners adjust their marketing tactics to reach consumers who have become more penny-pinching in their purchasing decisions. Because referrals are the most cost-efficient marketing method to increase a company’s bottom line, a business owner’s network could be the critical factor that separates winners from losers in this fragile economy.

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Online Tools To Keep You In Control Of Your Finances

by Amanda

It’s never too late to gain control of your personal and business finances. You’ve weathered the recessional storm this long so why not try a few new tools to help you maintain the momentum. Spring seems like a good time to me to make a fresh start. I feel renewed and energized to make some much needed money management improvements.

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When the business is tanking, should you tell the staff?

By Emily Maltby

FARMINGDALE, N.Y. (CNNMoney.com) -- Gary White has a problem many business owners share these days: His company has taken a financial hit, and he's not sure how honest he should be with his staffers about the situation.

White (not his real name) runs a legal services firm on Long Island. The companies he represents are losing sales, and consequently, so is he. But when White mentioned to his employees that the business was not doing well, he ended up scaring them.

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Obama: Pumping money into small biz

President Obama lays out the government's effort to encourage small business loans, but the SBA is still working out the details.

By Stacy Cowley

President Obama vowed Monday to ease the financial plight of the nation's small businesses, which have been hit hard by the recession.

"Small businesses are the heart of the American economy," Obama said in a speech at the White House. "They're responsible for half of all private sector jobs, and they created roughly 70% of all new jobs in the past decade. They're not only job generators, they're at the heart of the American Dream."

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Is your business changing with the times?

How does a company stay around for 100 years—especially in today’s economy? I found some answers in this Los Angeles Times profile of Dearden’s, a furniture, electronics and appliance store that was founded in 1909.

The nine-location Dearden’s is facing challenges, like most retailers today. But a look at how the flagship downtown Los Angeles store has lasted 100 years provides valuable advice we all can learn from.

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The Bright Side of Not-so-Bright Times

One upside of the current economic situation is that there are some great deals being offered by companies to boost sales during the recession. Small businesses in a position where they can (or must) buy equipment now can take advantage of some nice offers and save a lot of money.

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