How Financial Crisis affected small business owner? What are you going to do to through this difficulty?

Question

Through this financial crisis, how is the relationship between the owner and employee? Does it affect you spend money on your business and life expense? What will you do?

Additional Details

Through this financial crisis, how is the relationship between the owner and employee? Does it affect you spend money on your business and life expense? What will you do?What kind of business you are doing?

Answer 1

Best Answer - Chosen by Voters

i suggest you don't fire anybody. It will not affect your business, better make meeting with your employees & partner to solve it. Make cost cutting plans, and tell them to do hard work and give extra time and do more work, so that company can face these problem.

Answer 2

it's quite clear that a lot of people will loose their job and many small companies will fall apart. that's life. people stopped buying much and are taking their money form the banks. what you should do to survive - make your expenses less, as little as possible and don't buy unnecessary things. If you have a firm - you'll have to make the prices less and fire some people and make the quality lower. that's life. for common people it's all clear - take your money from a bank and don't invest anywhere if you don't want to loose and are not ready to risk.