Small Business Survival Guide: Recession Edition

Yes, we’re still talking about the threat of a recession—by definition, we’re not currently in one. However, the average consumer has grown weary of their financial stability, which unfortunately tends to impact small businesses more than it does large corporations. Small businesses have less access to cash reserves and capital to keep them afloat during troubling economic times; when consumers cut back on spending, SMBs have to think creatively. Here, we’ll cover 4 ways small businesses can keep their doors open while weathering the storm of a recession.

Find Free Resources 

Just as consumers are always looking for a bargain, so too can small business owners. The U.S. Chamber of Commerce hosts a list of 10 free resources for small business owners. You can find interactive tools and courses through the Small Business Administration (SBA), free programs and certifications through HubSpot Academy, events and workshops via Service Corps of Retired Executives (SCORE), and much more. Check back with these destinations regularly, as new resources pop up regularly here.

Focus on Loyalty 

Get Your Finances in Line 

Seek Expert (or Non-Expert) Help 

Keep up with the ever-changing small business landscape by turning to the Financial Pantry, ARF Financial’s informative blog. We cover all aspects of small business ownership, team management, strategy implementation, and more. And when it’s time to consider a loan or line of credit, look no further than the world-class products offered by our team. Stop by today and learn how ARF Financial can help you reach all your business goals.