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Small Business Crunch
We recently reported that some analysts see a slow economy as prime time to start a new business. However, due to the current credit crunch, many lenders are starting to close up the well of small business loans for people who are starting out. There isn’t a total shut off just yet, but experts are getting anxious.
It seems that many new and small business operators are not letting this setback stand in their way. Many are looking for smaller loans or shopping around to different institutions. Unfortunately, little can alleviate the fear that new business owners have about having enough cash to operate.
Karyn Greenstreet, a self-employment expert who runs her own company to help others start businesses, says that money concerns is one of the biggest fears that people have in the first 30 days of starting a new business. If this sounds like you, maybe you should spend some time researching money options today before your fear stops you in your tracks.
[The New York Times]