Lack Of Sales Biggest Problem For Small Business Owners
survey by the trade group National Federation of Independent
Business (NFIB), found that 51% of small-business owners reported a
lack of sales as their greatest challenge. Only 8% cited a lack of
In addition, the NFIB found that the drop in home prices has made it
harder for many small-business owners to qualify for loans because
they can no longer pledge their homes as collateral.
The fundamental nature of the problems � lack of sales, lack of
assets � underscores the difficulty in jump-starting small-business
growth while the broader economy continues to struggle.
William J. Dennis Jr., the NFIB senior research fellow who headed
the survey, said recent administration proposals, including $30
billion in new federal aid for community banks, were not likely to
help. But he also said the NFIB was at a rare loss for ideas on what
the government should do instead.
�We're really in a quandary right now,� Dennis said.
It�s time for entrepreneurs to take immediate action locally to gain
more customers. Advisedly they should be contacting a local trade
exchange to learn how they can quickly generate additional business
and greater sales.