The basic disciplines of being an entrepreneur or running a good business apply more so during the current climate, it has been claimed.
Business networking site Talkbiznow maintained that small firms must address their costs to ensure they are as efficient as possible.
Small business insurance customers could be interested to hear that firms are advised to ensure their products differentiate from competitors as much as possible to improve their profitability.
Mark Parker, executive chairman of Talkbiznow, said: "Inevitably some businesses will struggle in this environment and frankly it's not because they haven't done anything wrong, it's because the money isn't there and people haven't got the money to spend."
He added a lot of support is available from agencies and the government which will be welcome to small and medium-sized businesses during difficult times.
According to The Insolvency Service there were 4,001 compulsory liquidations and creditors' voluntary liquidations in total in England and Wales in the third quarter of 2008.
