5 Tips on Budgeting for Future Growth in Lean Times

Here are five tips for catalog/multichannel merchants on how to develop and improve budgeting and financing strategies to help weather a down economic climate.

1. Plan not to fail. According to the most recent Small Business Monitor, a semiannual survey of business owners conducted by American Express OPEN, uncertain economic conditions and the rising costs of doing business are the biggest challenges small business owners face in growing their businesses. The best defense during an uncertain economic environment is a solid plan.