According to CreditCards.com, over a third of small business owners are relying on their personal funds during the pandemic. In fact, 24.4% have used their personal credit cards and 20.7% have used their personal savings accounts for business expenses (10% did used both of these resources). What will it take to stay afloat in 2021? Owners say increase sales (32%), receive government assistance, such as stimulus funding (19%), and obtain any type of loan (13%).
As businesses across the country reopen, my latest eBook provides ideas and resources small businesses can use now to get through this recession. Covers: Living Within Your Reduced Budget, Sales & Marketing on a Shoestring, Getting Capital You Need, Staying Upbeat + more. Get the Idea of the Day® in your inbox each morning — simply sign-up and you’ll have access to the new eBook for free today.