According to surveys of small business IT managers:
- 93% of small businesses prioritize costs over the best IT solutions. As a result, 89% experience IT problems.
- Insufficient capital and lack of cash reserves are leading causes of business failure. During economic downturns, banks raise requirements, making capital difficult for many businesses to obtain. The article advises businesses to maintain enough cash reserves to withstand market downturns and slow seasons.
- Leasing equipment can help businesses by providing higher quality products while keeping cash on hand and avoiding using credit lines or tying up funds, allowing them to purchase more and strengthen customer relationships.