Five Recovery Steps Business Owners Need to Take Now

Few small businesses have escaped fallout from the economic downturn of the past few years. However, as many indicators begin to show signs of improvement, entrepreneurs need to position themselves to benefit from the recovery, says Jim Muehlhausen, CPA and author of The 51 Fatal Business Errors and How to Avoid Them.

"The default mode is that we're all very scared," he said. "Business owners don't want to spend when they're in doubt, but it's important to make smart investments in your business as the economy begins to rebound."

Muehlhausen offers five crucial steps to recovery business owners need to take now.