Tuesday, July 14, 2009

Getting Desperate?

Many small business owners are hitting the desperation button about now.

They've used up their reserves, lowered their prices and beat the bushes for new customers.

But those revenues just aren't rolling in and their credit lines are being cancelled. Things have gotten so bad, even the New York Times is noticing.

I hope that entrepreneurs are not so strapped that they're falling for unethical - and potentially illegal - schemes like "shelf corporations."

Never heard of them? Neither had I. But I write about them in this week's Smart Answers column.