As a small business owner, today’s competitive market may be intimidating. If a competitor cuts prices or offers other incentives, you may feel tempted to do the same thing to hold on to your customers, even if it puts the stability of your business at risk.
The Economic Development Bank and the Puerto Rico Industry Investment Board announced Tuesday the start of a financing program to provide credit lines of between $50,000 and $900,000 to local companies seeking to selling products and services to the government but who lack the necessary funds to get the process going.
Many articles have been written about the decline of customer loyalty, and how frugal buyers are putting a higher priority on price. Fortunately for small business owners, the repeat customer is far from becoming extinct. In today’s highly competitive environment, every necessary step must be taken to ensure the relationship with your customer doesn’t end at the point-of-sale.
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