With small business lending incredibly tight, more innovative alternatives to financing are coming up. This one has a big string attached: a complete change in how you manage your business.
Springfield Remanufacturing Company is a small city success, based in Springfield, Missouri. They got famous for using completely open book management, calling it the great game of business. Every worker is also an owner of the business, and all that financial training paid off as workers were able to build up and hive off their own divisions as separate firms.
And that brings us to the alternative financing. When the workers understand every financial detail of the business, they can even decide to loan the company money, when acute need arises. That’s what happened for one Springfield firm trained in business by SRC’s method.
Read and watch the whole story at PBS: SRC Manufacturer Goes Small in Era of “Too Big to Fail.“
New to SmallBizSurvival.com? Take the Guided Tour. Like what you see? Get our updates.
- Metaverse business idea: virtual world tour guide - April 15, 2022
- Make extra money from extra workspace: co-working and 3rd workplaces in small towns - March 28, 2022
- Trade show booth design trend: hand drawn visuals - March 21, 2022
- New business sign design? Don’t use cursive script - February 14, 2022
- Way more people prefer rural than urban, new Pew Research study finds - February 1, 2022
- Top 5 Rural and small town trends 2022 - January 3, 2022
- How to start a real small small business - December 17, 2021
- Tip for better pop-ups and shed businesses - December 5, 2021
- Small town business idea: cat grooming - November 15, 2021
- Community engagement planning: old way vs. Idea Friendly way - October 3, 2021
We in Springfield are very proud of the SRC story.
Miss Dazey, I thought of you, of course, while typing this up.