Alternatives for Struggling Small Business Owners

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 21, 2009 -- While small business owners wait to see if Washington’s proposed changes will provide relief, one owner has taken this economic crisis as an opportunity to expand. “I realized there was an overwhelming need for services that provided small business owners with personal, administrative and bookkeeping assistance without the overwhelming cost of hiring an employee” says Latoya Chaplin owner of Out of Time, LLC. Similarly, other virtual assistant businesses have become popular in recent times as business owners look for more affordable ways to operate.

Some small business owners choose to hire virtual assistants to keep their business running while they seek relief by heading back to the workforce for financial stability. With Bureau of Economic results showing consumer spending having a decrease of $56.1 billion from Oct 2008 to Nov 2008, small business owners whose income is based solely on sales are struggling. Statistics show the survival rate of businesses are impacted the most during the second to fourth years of operation. According to SBA studies, two-thirds of new employer establishments survive at least two years, 44 percent survive at least four years, and 31 percent survive at least seven years.

Other business owners have placed their hopes of relief into the freshman class of the 111th Congress. Several new members of Congress come with small business backgrounds from sandwich shop owners to real estate developers. According to the SBA Office of Advocacy the freshman class of 2009 first order of business will be trying to figure out how to get the economy back on track. With small businesses responsible for creating between 60 and 80 percent of America’s net new jobs, small business owners are hoping they are on that first order. “I am just happy that small business owners, who don’t have the luxury of bailout money, are going to be properly represented in government” says Latoya.

Whether relief lies in utilizing virtual assistant services, picking up a second job, or awaiting “change” in Washington, one thing’s for certain, small businesses will continue to remain the backbone of America.

###

administrative     assistant     business owner     help     luxury     operate     personal     small business     virtual