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Barbara Weltman

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Small Biz Owners Using their Own Funds Now

August 9, 2020 / By Barbara Weltman

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%).

Subscribe todayAs 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.

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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