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Obstacles that arise that may intimidate the longevity of a business include economic factors, demand for the products and services offered by the business, and having a skilled workforce. As the Owner-CEO of Xander’s Tools, a small job shop machine tool company, I have been fortunate to manage a successful business without having to encounter any of these issues, until now. Due to economic downturn and a weak economy, business activity has taken a volatile decline and I foresee that it is only going to get worse. My accountant has advised that if I want to keep my doors open I need to either layoff some of my workers or decrease wages...
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