Slow sales? No credit? No problem
While many small business owners are feeling the crunch, others see opportunities in the market slowdown. How is the economic turmoil affecting your business?
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DiggI own and operate a small victorian Tea room with old tyme ambiance, which is a specialized destination for most for lunch as well as dress-up tea parties and showeres. Our guests love the service as well as our menu , however, with the economy the way it is , it is a luxury they are cutting back on. A line of credit is out of the question and etween , salaries and daily operating expenses it is really dificult to stay afloat.
We’re helping homeowners, business and a few city parks to “power down” by installing low maintenance grasses & landscaping. Business has been good to great as more and more get powered down for the long term.
Many of the low maintenance grass sites offer discounts to us landscapers and it helps to create jobs. They kept us busy all summer and into the fall.
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We have had to cut staff and also to cut salaries by half. We support 15 local families by providing them jobs.
In December, the bank came to us and said that they had sold all of their branches in Indiana. They also, told us that they were getting out of the floor plan business. We run a truck dealership and need the floorplan to buy trucks. We have not yet been able to secure another floor plan. I don’t know how long we can hold out.