Capital Solutions Bancorp News

Barclays Capital has significantly lowered its earnings forecasts for the oil service and drilling sector for next year.

Figures released by the institution indicate that although worldwide oil and gas production expenditure levels for 2009 will stay flat compared to this year, for firms in the U.S. such spending is predicted to fall by some 25 percent.

As the economic slowdown continues, small business owners in Wisconsin have been advised to take steps to ensure their organization is on a firm financial footing.

In a meeting held by the Metropolitan Milwaukee Association of Commerce at the city's University Club, it was reported that entrepreneurs should use the current financial climate as an opportunity to secure their businesses and develop goals for the long term, WisBusiness reports.

Small firms across Tennessee are reportedly struggling to access lines of credit from the U.S. Small Business Administration (SBA).

Over the course of the fiscal year ending in September 30th, SBA-approved lending to counties in the middle part of the state - Wilson, Williamson, Sumner, Davidson and Rutherford - fell by some 23 percent to stand at 285 loans, the Tennessean reports.

Owners of small businesses are reportedly afraid about the future of their organization as the credit crisis continues.

In a Fortune Small Business article, psychoanalyst Alexander Stein states the difficulties experienced by Wall Street and the wider financial situation are causing small businesses to begin to panic and struggle staying focused.

A new study reveals that the east coast of the United States is in a particularly strong position when it comes to business growth once the current financial crisis recedes.

Research carried out by Information Technology & Innovation Foundation claims that a number of states in this part of the country will be among those that will perform the strongest as the global economy begins to bounce back.

Overall, Massachusetts was revealed to be in the best position, with New York, Connecticut, New Jersey, Maryland and Delaware also predicted to be able to cope well.

Owners of small businesses in North Carolina were recently given advice on how to cope through the economic crisis.

Earlier this week, the Charlotte Chamber of Commerce held a "Survive and Thrive" seminar, where various business leaders gathered to share their ideas on successfully sustaining their organization amid the ongoing the credit crunch tightens.

Zbigniew Habas, founder of Stone Master, said, "When I started the business three years ago, I'd be lying if I said I knew what was coming."

With next year on the horizon, small business owners have been given a number of tips on how to ensure they have a successful 2009.

In SCORE's Counselors to America's Small Business report, such organizations are advised to take steps to focus on the areas of their businesses that they have a firm control over and from there look to cut costs wherever possible, the Cherry Hill Courier Post reports.

A number of small businesses in New England have reportedly expressed their frustrations in being unable to access lines of credit.

As the financial crisis continues a number of small businesses throughout the country have called on president-elect Barack Obama to take steps to improve access to lines of credit.

CNN Money reports that as bank lending has dried up and consumer spending has fallen rapidly, owners of small firms are concerned that unless action is taken quickly by Obama, Main Street will suffer heavily.

Small businesses are increasingly struggling to manage the rising cost of health insurance, it has been reported.

In a Wall Street Journal article, it was claimed that such firms are set to be hit hard by major rises in premiums rate as they head into 2009.

The publication points out that such rises "couldn't come at a worse time", as the overall economic situation weakens and accessing lines of credit becomes more difficult.