Whether your business has been impacted by a natural or manmade disaster or by economic downturn, Alexandria SBDC staff has experience and contacts to help. These problems are not easy to overcome but the earlier you contact the SBDC, the sooner we can begin working with you to mitigate the issues.
If your business has been impacted by a disaster you should contact Alexandria SBDC to determine whether there is an official declaration that enables you to apply for a Disaster Loan. In that circumstance, SBDC staff works closely with our SBA counterparts to expedite your recovery. Contact Alexandria SBDC staff.
This SBA page has more information about Disaster Declarations and Disaster Loans. Keep in mind that Alexandria SBDC can help you expedite the process.
Strategies for an Economic Downturn
Small businesses are impacted the hardest in times of uncertainty and economic downturn, but they also have the agility to make critical adjustments much quicker than larger corporations. One of the hardest things to overcome is an entrepreneur’s natural tendency to bury their heads and keep thinking that, if they just work harder, they can work their way through the problem.
The Alexandria Small Business Development Center (SBDC) has guidelines called Realistic Strategies for Times of Economic Uncertainty that has very specific and detailed steps that business owners should take to improve cash flow, control costs and think about re-strategizing their marketing in the face of changing consumer patterns. The SBDC also encourages owners to schedule no-fee confidential meetings with the SBDC’s Business Analyst for advice on their particular issues.
The Strategies guidelines pay close attention to solving an immediate cash crisis with suggestions for collecting accounts receivable, setting credit policies, determining which creditors to pay first and controlling costs. There is additional emphasis on enhancing the business’s image, re-marketing to current customers and identifying new target markets.