How to manage a small business during times of economic uncertainty?

Managing a small businessn has its benefits and drawbacks. On a positive side you are likely to have a smaller workforce who works well as a team and you know each of your employees personally. This makes a really good team environment and it is often easier to manage your staff. The downside to a small business is that during difficult times, a smaller business tends to suffer. A smaller business will not always have as much cash flow or as strong credit terms as a larger company or plc, meaning that when hard times hit, money saving is often the only option.