Published on February 16, 2012 by Forbes
Micro businesses in the United States represent an important economic segment and will be an important factor in our economy. They are major contributors to job growth and form a huge block of the total outstanding business community and tax base. Today Micro Businesses face five major challenges in order to flourish and survive:
- Capital or Finance
- Technological Advances
- Embracing E-Commerce or The Internet Advantage
- Navigating Health Insurance
- Outsourcing When Available
Many businesses today cannot find funding or loans for their business. Whether a business owner is looking to refinance existing bank debt or growth capital, money is hard to come by. Without funding, micro businesses across the US will struggle. The bank-lending crisis and depressed equity values in homes have reduced the amount of available dollars to micro business. The Small Business Authority has programs suited for business with modest employee headcount.