Many businesses are having a rough time in the current economy.
The first thing you should do if your business is struggling is to refer back to your business plan. Examine whether you have strayed from the original premise of your business idea and evaluate whether this diversion has been successful or not. Conversely, if you have rigidly stuck to your business plan all along then it is probably time to start making some revisions.
The main priority for your small business during difficult periods should always be your customers, so it is vital that you have the highest possible level of customer satisfaction. Speak to them and find out if there is anything you are doing wrong. They may also have suggestions for additional products or services that you could offer.
You should look for ways to save money wherever possible. Make use of accounting software to be are extra vigilant with company finances. Consider lowering your prices slightly because although your business is hurting, so are your customers and they may need extra incentive to keep spending.