I'm doing some research to see what are the most common challenges small business owners are having in growing their businesses in tough economy. Is it not enough time to focus on growing the business vs. other non essential functions, or not having enough people on their team, or the right people on their team, or not having the brand recognition or exposure, or not having the money and funds to allocate to growth, or lack of strategic planning? Please share what challenges you are facing.

My hardest problem is cash flow. Most all of my venders are switching to inventory ordering with a credit/debit card. This makes is very hard to keep inventory up when shoes are $50-$90 a pair. Paying up front is very hard and getting loans specifically for inventory is even harder. I have probably lost $4000 in sales this week not having inventory in stock.

Lee, I feel your pain. Have you tried speaking with a bank about getting an SBA Small Business Loan that you can tap into? Here is a little information I found: All SBA loan programs lend to small businesses unable to secure financing on reasonable terms through normal lending channels. The loan programs are operated through private-sector lenders that provide loans which are, in turn, guaranteed by the SBA -- the Agency has no funds for direct lending or grants. Most private lenders (banks, credit unions, etc.) are familiar with SBA loan programs so interested applicants should contact their local lender for further information and assistance in the SBA loan application process. I like TD Bank for their great customer service: I'm not sure if they have branches in your state but you can check them out at http://www.tdbanknorth.com/net/selectstate.aspx?ref=/small_business/loans.html

If the cash flow problem was due to your accounting process check out Support Functions www.SupportFunctions.com which provides back office accounting, bookkeeping support that allows you to focus on what you do best.

Cheers

It doesn't seem like there is much need for precision sheetmetal fabricated parts. We don't have a product, we do custom work and haven't had a lot of opportunities to quote on new work. We have been slowly losing customers because they aren't getting work or are closing their companies. We haven't worked a full week since about February, 2009. We work from 16 hours to 24 hours a week compared to 40 hours in the past. We are very worried about staying afloat until the economy gets better.

I would like to offer the services of a Professional Employer Organization (PEO) to any of you that might not be familiar with that term. PEOs relieve employers of the burdens and challenges associated with being an employer. We can't increase your business but we can clear your desk of payroll, benefits and HR concerns so that you can focus on growing your business. I am a long time member of NFIB & I would be glad to talk to anyone about PEO benefits. www.mgmtsolutionsgroup.com

Have you considered using social networking and social media marketing to increase your exposure? While time consuming, there is relatively little or no cost associated with this type of marketing. I am working on some campaigns myself and I am finding that social networking can be an effective way to reach out to new customers no matter what your industry is. Another piece of the marketing puzzle is your web presence. Are you effectively communicating your value message on the web?