There’s a recession going on and if you are like many other entrepreneurs, you’re sweating a little. Gas prices are fluctuating wildly. The markets are on a crazy roller-coaster ride. What is a small business owner to do? In Busnessweek.com, Nick Leiber has thoughtfully collected ten resources to give nervous entrepreneurs ideas on how to stay afloat.

The first link is specifically concerned with raising capital in an economic downturn. It covers venture capitalism, shoestring budgets, and angel investors. He also thoughtfully provides a link to an overview of the basics.

Leiber continues with successful strategies in fighting a recession, including getting good deals on real estate. There is also links to podcasts from experts that give advice on surviving or selling in bad markets, as well as a slideshow on industries that will probably suffer the most. Marketing is not overlooked with five things you shouldn’t do, and there is good advice for hiring and firing in these bleak times.

So with advice covering subjects from raising capital, budgeting it, and spending it to advertising, selling, and managing, waiting out our sick economy and thriving is more than a dream; it’s a possibility. Yes, these times are tough, but you are not alone. You have many suffering with you, and – on a happier note – there are many more that have the knowledge, resources, and motivation to help you.

The Gulfport Chamber of Commerce in Mississippi knows that getting money to provide grants does not have to be dull. In June 2008 they sponsored Margaritafest, a party with a purpose. They did more than let their hair down at this luau-filled fest of dancing, food, and fun; they raised funds for the grants that they give out to small businesses.

They started giving out these grants to help small businesses after Hurricane Katrina. There is no doubt that Hurricane Katrina devastated New Orleans, but some people are not aware of how much damage it also did to neighboring areas.

If your local chamber of commerce doesn’t have a Margaritafest, think about starting something similar.

If you are thinking that you might be able to go to the SBA for a small business grant, be aware that the SBA does not provide grants directly to small businesses. They do, however, give grants to non-profits that provide management, financial or technical assistance to small business. Click here to learn more about these grants.

Chaos in your small business is sometimes unavoidable, but always regrettable. Nothing is more irritating than working in disorganization and confusion. Here are some tips to help keep the chaos under control and keep all systems running well.

A Good Office Management Routine

Establishing a good office routine is a key element in the success of a small business. Establish a routine for processing paperwork and office systems. Each paper that comes into your office should be handled only one time. The rule should be: Receive it, process it and file it away. Don’t just stack it haphazardly on the desk and create clutter to be dealt with at a later time.

Keep Accurate and Updated Records

Keeping records updated may seem like an easy task, but it is even easier to fall behind in your updating. Updating your company records should be part of a daily office routine. If a customer contacts you, take the time to immediately update their records. If you have a new customer, take the time to add them into your database or filing system. There is nothing worse than having to tell an existing or new customer “I know the information is here…um….. somewhere, I will need to get back to you later.”

Who’s Responsible for This Anyways?

An office can only run efficiently if the employees know who is responsible for what job. When people are accountable for their jobs, they get more things done. With no duty assignments, it is likely that chaos will ensue.

Please check back on Friday for the conclusion to this post.

It may seem obvious, but the simple fact is that customers want respect from and for the businesses they deal with.

Promises, promises, promises….In the haste of doing business, it is easy to make promises that cannot be kept. Businesses may promise to return a call by the end of the day, but forget to make the call. Businesses might tell a customer that they will deliver a product by a certain time, but not follow through. Not following through with your promises will put stress and stain on the relationships with your customers that are so important to a small business. Businesses should make sure that they can deliver what they promise at all times.

Hire great people…..Nothing can compare to having that personal connection. Businesses should create a great working environment for their employees. Happy employees usually reflect great images for the business, which in turn equals great revenue. Technical skills are good, but hiring individuals with excellent interpersonal skills is even more important. What good are technical skills if you cannot relate to a customer? If you want people to return, hire those who will help draw the customers in and make them feel good. Technical aspects can be taught to employees, but you cannot teach someone how to have the best attitude towards customers.

Please check back Monday for the conclusion to this post.

More than $6 million in U.S. Small Business Administration Disaster Assistance Loans have been approved for residents in Indiana who were affected by the severe storms and flooding January 7 through March 14, 2008.

Victims are urged to register with FEMA by calling 1-800-621-3362 (FEMA), then complete and return their SBA disaster loan application by the March 31, 2008 deadline. “SBA is here to help you with your recovery efforts. I encourage anyone who has not completed their disaster loan application to do so and meet with a Customer Service Representative at one of the Centers located throughout the disaster area for assistance,” Skaggs added.

The deadline to return physical loan applications is March 31, 2008; the deadline for returning economic injury applications is October 30, 2008.

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11 cities to participate in the Emerging 200 initiative, a jobs and growth stimulation effort targeting promising inner-city small businesses was announced by the U.S. Small Business Administration. The designated cities where the program will begin are Boston, Philadelphia, Baltimore, Memphis, Atlanta, Chicago, Milwaukee, Albuquerque, New Orleans, Des Moines and Oakland.

“This innovative initiative is designed to accelerate the growth of companies that are poised for sustained expansion,” said SBA Administrator Steve Preston. “With the selection of these eleven cities, the Emerging 200 initiative will begin to prepare 200 high potential companies for their next phase of growth. It will attract and tap the power of these local entrepreneurs to transform their communities, grow wealth and increase the tax base in a real and lasting way.”

The Emerging 200 initiative will have its official unveiling in each of the pilot cities at a series of local launch events to be scheduled in late March and early April.

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Continued from the post on Friday.

Evidence of earning projections need to be provided before considering investing. Have a list of questions for the promoters and interview them in person where the business is in operation. Never conduct business over the internet without the potential of meeting in person. It is important to be face to face in order to spot false statements by fake companies.

Check with your state attorney general’s office and the consumer affairs bureau to see if any complaints or wrongdoings have been reported against a company, prior to handing over any money. If there are licenses required to run this business, check to see that all paperwork has been submitted.

There are twenty six states with business opportunity laws. It is important to know which ones apply to you before you begin the investment process. Most states have laws in place whereas companies cannot sell their business opportunities without providing potential purchasers with a presale disclosure document. These documents must be filed first with a designated state agency. Franchise investment laws are in place in fifteen states. The laws require franchises to provide presale documents to all potential purchasers prior to investing.

Before you raid your college or retirement funds, or take out a home equity loan, or deplete your savings, be sure to do your homework on any new small business endeavor. As the old saying goes, look before you leap.

With the potential of a full blown recession in the United States, there has been an increase in small business start-ups. Starting up your own business in hopes of generating new found wealth is a good thing, but would-be entrepreneurs need to be careful when searching for that perfect business fit. Don’t get suckered into a deal that will make someone else money and not yourself.

A new trend that has hit the marketplace is prepackaged businesses opportunities, otherwise known as a “business in a box”. Often times these types of businesses are bogus scams. They are easy to fall prey to because those that are pitching the products are very convincing. More times than not, these types of businesses do not yield the money that the promoters say they will. Small business owners need to be enthusiastic, but they must also be realistic.

When considering this type of business, scrutinize each piece of information that is provided by the seller. It is important to go and see the potential business opportunity in person. Talk to people other than the person you are getting the sales pitch from. Get all information in writing no matter how small of an investment they are asking for. If the promoter has to back up his claims in writing, it will be more difficult for him/her to rip you off.

Check back on Monday for the conclusion to this post.

So far in Buffalo district the SBA has approved 168 loans in the first quarter. This is compared to the $58 million loaned in the 2007 fiscal year. This is a good start for Buffalo and $7.8 Million were through the popular 7(a) Express Program.  The biggest advantage for 7(a) Express loan is the 36 hour turnaround time for approval and the maximum loan amount is $350,000.

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The Wall Street Journal has a great Q&A with a lending expert about the current situation of dwindling lenders.  Check out the great info here:

Finding Franchise Funding Amid a Credit Crunch