Do You Have the Financial Resources?

What is the financial situation of your business? Is your business financially stable or are you just starting out and short on cash flow? Are you able to make payroll and other payments with no problem? In other words, is your business financially healthy?

As we mentioned earlier, if you are in financial trouble, a government contract would be more likely to put you out of business than to save your business. We have seen many companies that want that million-dollar contract, but the worst thing that can happen is to get one and not be prepared for it. Still, there are ways to work with other companies, even your competition, to get more purchase orders.

Small business owners primarily look to their own personal resources for capital. The predominant sources of financing are: Small business owners themselves 41% Cash advances from personal credit cards 36% Personal lines of credit 25%