Many people are glad to bid farewell to 2008.

2008 turned into one of the most tumultuous years financially that the United States has ever experienced in modern times, and what affects the U.S. economy affects most of the rest of the world economically. The U.S. National Bureau of Economic Research reviewed the numbers and decided that the United States entered into a recession back in December of 2007.

Yet, in spite of all, more people than ever want to start up a work at home business. People desire the freedom of control and the power to select their own way of doing things that comes with owning a small business. And now, with the advent of things like the virtual office and other technological wizardry, starting up and running a small business can be less costly and faster to rev-up than ever before; with this, many people dream of making their fortune by running a work at home business.

Yet, it’s important to realize how the economic downturn of recent times is affecting start up attempts for new small businesses, and it’s important to look at how already established small businesses are being affected. For many may feel that these are “the best of times, the worst of times.”

For instance, businesses across all industries are finding it harder to compete for consumer dollars during these tough times. It’s a simple principle: the vast majority of consumers feel the need to cut expenses for the time being, and so apart from absolute necessities they are being far more judicious about how and where they choose to spend their money. If established businesses who already have regular customers are getting hit like this, just think about how hard it could be to get yourself established from next to nothing right now. Have you researched your service “perfectly”? Have you researched your target market? Do you have a solid, strong business plan?

Here’s another problem being faced nowadays by small business owners: the tightening of the lenders’ purse strings. Lenders always cut back on their profligacy with lending out their money during recessions, and this time the recession was very largely caused by bad lending practices–so they are now cutting back on lending even more as some very large banks file for bankruptcy or get bought out. Small business owners need financing. They need loans for start-up capital, and they often need more loans to finance their business expenses as they run their operation. Lending is the life blood of small businesses. Lenders will continue to give loans, of course, but now it’s much more difficult for the small business owners to qualify for them. When they do qualify, their rates will often be higher than they have been in recent years. Once again, if you are considering starting a small business, you’ll really need to know how to make a strong case for yourself and your proposed business to the lenders you approach for capital.

And that leads into yet a third problem: can you afford the quality workers that you’ll need to help you? Small business owners cannot afford lackadaisical staff; they have to have top quality workers, because every one of their customer relationships counts. Even though the virtual office and global outsourcing can really help in this regard, nobody is going to work for free; and the more technical or professional expertise you’ll require to work for you, the more you’ll have to pay to acquire and keep the right personnel.

These and several other problems face the prospective and the established small business owner during tough economic times. But, a resource has been established to help you through and give you the best possible advice about how to cope and make your enterprise a success. This resource is the Small Biz College (Small Business Ideas). Here you can find the most complete library on the Internet for the small business owner. Hundreds of pages of valuable content and advice from leading experts in every field; thousands of free downloads, software programs, and other resources; hundreds of webinars in the video library that address the specific issues that small business owners face every day; and much more can be found here. Visit starting your own small business

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