Making Use of Social Networking Sites

With hundreds of millions of registered users frequenting such sites as MySpace, Facebook and LinkedIn, it’s time your small business started to look at ways to leverage these and other social networks to boost business. “It’s virtually low or no cost for entry,” explains Adam Schwam of Garden City-based Sandwire, an information technology consultancy. “It allows individuals to post information about themselves, others and their business to a wider audience than they would normally meet in person.”

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Build Up Funding Base to Aid Small-Business Growth

To gain funding, small businesses should enhance their business plan and cash flow projections to show how they will build up that permanent capital through additional reinvestment in the business. The amount needed to fund growth is different for every industry. Piling up capital is especially important in today’s uncertain economy.

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Keep Your Business Afloat in Rough Economic Seas

With energy costs on the rise and customers cutting back on spending, it can be challenging to run a small business during an economic downturn. Still, there are ways to cut costs and boost profits, according to SCORE, a nonprofit dedicated to helping small businesses. The organization suggests business owners check their operational expenses on a regular basis and monitor profitability more frequently. By reviewing business plans more often, entrepreneurs can make adjustments in a changing economy. Here are additional tips from SCORE on how to stay afloat during tough times.

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