Small Business Solutions
Nine Tips for Downturn Entrepreneurs
Outright.com Chief Executive Kevin Reeth says that despite raising $2 million in venture capital, the free online accounting company was only able to get a corporate card with a $5,000 limit. When the company switched to American Express(AXP), they received only a $3,000 line of credit.
"Here is a start-up that was ready to spend money and the credit card company doesn't want to give it to us," he says. Petersen says she sometimes has to wait for more than 30 days to receive payments. As a result, she makes sure to have three months worth of funds for personal and business expenses on hand. Success stories like General Electric(GE) and Microsoft(MSFT), both of which started during recessions, grab headlines. But remember there are far more tales of failure that didn't capture the spotlight.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
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|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
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