Measuring the economic confidence of small business owners the Discovery Small Business Watch Report for July 2007 is out, and it makes for interesting reading:
Economic confidence among small business owners fell in August as small business owners expressed less confidence in the economic conditions for their business and experienced more cash flow issues. At 102.4, the Watch is down nearly five points from July’s 107.3 and is nearly level with the Watch’s lowest index since its inception, June’s 102.5.
I’m concerned about the cash-flow crunch on small business. Maybe more small business owners should change to bootstrapping techniques as their prime small business strategy. Small business and start-up business, like SOHO-, SME, SMB-, Micro-, Lifestyle-, Home-, DIY-, Hobby-, Boomer-, Professional-, Personal businesses need to implement these techniques to become recession proof.
How recession proof is your business?