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Originally Posted On: https://wnynewsnow.com/2025/07/18/cashflow-crisis-6-secrets-to-keeping-the-doors-open-when-times-are-tough/#google_vignette
It’s tough out there in the business world. Over 7,000 businesses shut their doors in the United States in 2024 alone. Many are finding it increasingly difficult to manage rising costs and shrinking numbers of shoppers.
Still, declining sales don’t have to mean closing your doors. Here are five secrets to keeping that ‘open’ sign up when times are tough:
Explore Loan Options
Waiting for customers to pay their invoices can be a stressful time. You have your own bills to pay, and you may be waiting for money to come in before you can take care of them. That’s why taking out fast, small cash loans can be worthwhile.
A loan can provide you with the funds you need to manage your business’s financial obligations when a shortfall threatens to bring your business to a grinding halt.
Research Grants
The United States Government wants to see businesses thrive. After all, successful companies are an integral part of a robust economy. Don’t be afraid to explore the grants the government has made available for various companies.
For example, you may be eligible for the Minnesota Emerging Entrepreneur Loan Program (ELP) if you have a startup or expanding business and are a minority, a woman, a veteran, an individual with a disability, or have a low income.
If you need to enhance accessibility in your business and don’t have the funds to do so, you may also be eligible for the San Francisco Accessibility Grant. Explore the wide variety of options on the US Chamber website.
Run the Numbers
You can’t hope to be successful in business if you don’t know your income and outgoings; that’s why using a reliable online platform for collecting rent online will help ensure you get paid seamlessly and on time. Track your cash flow to stay ahead of liquidity problems, so you can tackle them as soon as they arise. Cut unnecessary expenses, including anything that isn’t essential to your operations or that doesn’t drive revenue. You should also be realistic when forecasting.
Negotiate, Negotiate, Negotiate
How much your business pays for the goods and services it receives doesn’t necessarily represent the most value for your money. When times are tough, don’t be afraid to talk to lenders, suppliers, and landlords about how you can get the best bang for your buck.
Most businesses would prefer to come to a new agreement or at least revise their payment structure rather than lose a customer. You may also be able to extend your payables and speed up receivables to create much-needed breathing room.
Adapt to Survive
Sometimes, adapting is the most effective way to navigate rough economic periods and keep your business alive. Consider adjusting your pricing, bundling service offerings, and offering online options if you don’t already. You may also decide to add more value to your customers to attract them, rather than lowering your prices.
Ask for Help
You aren’t alone in your business struggles. According to the MetLife & US Chamber of Commerce Small Business Index for the first quarter of 2025, small business owners have reported lower levels of cash flow and business health. Knowing you’re one of many struggling business owners, reach out for help if you need it.
Talk to other business owners who can relate, as well as friends, family members, or mentors. Surround yourself with a trusted support network so you feel less alone.
There’s no denying that being in business can be challenging, and you can face economic uncertainty from time to time. However, by asking for help, receiving fast cash loans, and being on top of your business’s finances, you may end up in a better financial situation than you thought possible.