In some cases, the most difficult part of owning a small- and medium-sized business is getting it off the ground. Many entrepreneurs struggle to finance their organizations and maintain their personal fiscal footing. As a result, some SMB owners work other jobs during their companies' early stages. Carol Humphreys, executive director for the Muskingum County Business Incubator, told the Zanesville Times Recorder that two thirds of her clients follow this tactic. 

"I think that is a very typical way for them to be able to get started," Humphreys said. 

Humphreys also noted that many SMB owners are stressed by this plan. Balancing a full-time job with other responsibilities can be daunting, especially when someone is trying to open a company. Depending on the SMB and the other job, the situation can overwhelm an entrepreneur. 

Owners who split time between their establishments and another position should manage their time wisely. YSF Magazine points out that entrepreneurs should never work on their new ventures while working in someone else's office because it may affect the employment agreement. SMB owners should schedule their responsibilities so that no two tasks overlap. Having a clear calendar and to-do list can help entrepreneurs ensure that their work and new businesses aren't suffering. 

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The recession has impacted small businesses more than large companies, which is highly unusual when the economy heads south, Ralph Ross, district director for the U.S. Small Business Administration's Kentucky district office, told Business First. The decline in small businesses is greatly attributed to the banking crisis driven by the recession that started in 2008, Ross added. According to the SBA, there 5.89 million fewer small-business loans in 2008 than in 2011, cited Forbes.

Due to the U.S. banking system being severely affected by the recession, lenders have had to tighten up their systems regarding credit supervision and stricter lending rules, added Ross. The fact that banks had stricter regulations for small-business loans made it more difficult for startups and struggling small establishments to get the financial help they needed in order to sustain themselves.

The new bank merger between Oklahoma-based MidFirst Bank and Presidential Financial could mean a brighter future for small-business lending, reported Forbes. The merger is predicted to blend traditional lending and new small-business trends to offer more options for the small-business market, stated Forbes. 

Small-business owners should stay on top of banking news to see what trends the market will try and adapt to stay ahead of competitors. The fact that there are non-traditional lenders out there puts the power back in the hand of small-business owners - if they don't like what the traditional banking system has to say, they have other options and can walk away, reported Forbes.

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Developing a small-business marketing plan can be overwhelming for first-time small-business owners. Some of the most successful small businesses practice the following habits in order to keep the company on track, keep their sanity and find balance between work and life outside of the business.

• Take the time to develop a business plan. José Rivera, founder and president of Rivera, Sierra and Company told Business USA that small-business owners who are just starting out need to take at least six months to plan a corporate infrastructure. This includes getting business finances in order, establishing bylaws, meetings and tracking minutes, stated Rivera. It's important to always make the business infrastructure a priority. The longer entrepreneurs practice these business development plans, the easier it will be to maintain them.

• If and when a business is stable enough to bring on additional employees, make sure to look for workers who can contribute to the marketing goals, administration tasks, and is someone who knows about financing, added Rivera. These skills, he said, are imperative to making a small business successful.

• Successful small-business owners lead by example. It's important to be able to make decisions about daily operations to meet business goals and objectives, reported Forbes. Good leaders know when to streamline businesses contacts and make the most of available resources, added the source.

• Another aspect of being a successful business owner is knowing when it's time to put work aside and leave it alone. Small-business owners who spend too much time at work or focused on a single aspect instead of the big picture can be easily dragged down. It's important for business leaders to know and understand when it's time to put something aside and give their brain a break, reported the source. This also means business owners need to broaden their interests and make time for friends, family and activities outside of work in order to find a good work-life balance.

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It's important for small-business owners to instill workplace rules and enforce best practices. As new workers come into the establishment, it's important to keep the following managerial tips in mind to keep business running smoothly:

• Take the time to properly train employees. Hiring someone based on their work experience or skill set doesn't mean he or she will know how to do the job the way you want to see it done. Save yourself from frustration and set an integration time to get employees up to speed and familiar with the business.

• Teach workers to not need a manager. Give employees the opportunity to grow and gain empowerment. Don't let "busy" workers fool you into thinking they aren't capable of managing projects or handling customers. It's in the best interest of the business if the employees can take on tasks and solve problems in case you aren't there when an issue arises.

• Foster an employer culture that encourages open communication. New hires are likely to make mistakes while learning on the job. This is a great opportunity for them to ask questions and get feedback on performance and skills in order to learn and grow. It's important to make sure workers know they can come to you if a problem arises or they have questions. An open-door policy is the best policy to keep the work environment healthy.

• Hire job applicants who are eager to learn, and let them know if they start to slack off. The last thing a startup company needs is lazy workers. If an employee isn't staying on task or is goofing off when there is a lot of work to be done, bring it to his or her attention. Don't let the employee get away with excuses or allow him or her to try and force your hand or rat-hole you by changing the subject. It's important to be open, but still maintain the mindset that you're the boss and the employee is there to help better the business, not bring it down. 

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Public resources are springing up all over the country in an effort to promote small businesses and provide startup companies with assistance they need to grow and prosper. These places range from long-established public libraries to new resource centers that help entrepreneurs get started.

The Meridian Asset Resource Center (MARC) was officially opened in Okemos, Michigan, on February 11. MARC was built with the intention to offer business support, including knowledgeable resources and training. The center is available to residents in Okemos Township as well as the larger Lansing area, stated The Lansing State Journal. Startup businesses and emerging and established organizations are encouraged to use the MARC programs to help better their companies. MARC offers office spaces, private conference rooms and meeting areas for rent. The larger meeting rooms will be used to host workshops, seminars and small exhibitions for local entrepreneurs to attend, added the source.

Likewise, public libraries across the nation have seen an increased demand to provide unemployed and underemployed job-hunters with career reference materials and resources and make up for the skill shortage among workers, stated Smart Planet. In addition to providing increased internet resources, technical information, career search centers and training development, some libraries are taking development a step further, added the source.

The Arizona State University Library is planning to offer a network for entrepreneurs and small-business startups to connect and come together within incubators found in Scottsdale's downtown Civic Center Library, reported the source. Arizona State University also plans to offer residents formal classes and informal mentor programs, which are aided by the university startup resources. The university is also investing in training library staff to deliver material and help guide entrepreneurs to resources that can provide them the answers they are looking for.

An annual analysis of each state's small-business profile was released this week with hopeful results. The Small Business Profile for the States and Territories, conducted by the U.S. Small Business Administration (SBA) Office of Advocacy, reported that small businesses across the nation are helping restore the U.S. economy, Dr. Winslow Sergeant, chief counsel for advocacy, stated during the press conference.

Even though most small businesses reported having fewer than 20 employees, they are helping boost state and national recovery, added the source. The small-business profile includes highlights dating back to 2007 and how far the overall economy and small businesses have come.

Some of the most important findings from the latest profile include the fact that self-employment, especially among minorities, has seen the largest overall growth over the past decade. Self-employment has increased the economic recovery over the last 100 years by 5.8 percent, concluded the source.

Small businesses contributed to 55 million jobs back in 2010 - these job opportunities came from small businesses that had between 20 and 500 employees within individual firms. The report goes on to say that by the end of 2011, more small businesses had opened than had closed, which contributed to a good year-end net gain for the U.S. employment.

Thanks to small businesses, the overall unemployment rate decreased by 0.7 percent in 2011, added the source. In addition, the U.S. economy reported a strong gross domestic product increase as well as an increase of employment opportunities within private sectors.

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