I have been writing my advice to entrepreneurs on what they need to do to weather the current and near future economic storms. But just what are they all actually doing? A new poll from NFIB offers some insight.

Here are a few of the findings:

- 20 percent of small employers have reduced, postponed or cancelled a planned investment or reinvestment in the last six months; the slowing economy is the primary reason in more than half of these cases. They are becoming much more prudent in their resource commitments for expansion.

- Increased marketing and sales activity is a common strategy to combat an economic downturn. However, this is one of the least frequent approaches a small business owner uses. This is a big concern to me. Now is not the time to reduce marketing efforts!

- 44 percent of small business owners are spending more time at their businesses today than six months ago.

- Over the past six months, small business owners are highly likely to have become more attentive to their cash flow and inventory status. This is key, and should also include cutting overhead and debt.

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(Anthony Kuhn on Jul 22, 2008 10:42 AM) Dr. Cornwall: I so enjoy running into your albums during my reading of entrepreneurial and small biz blogs and I think these things that businesses are doing in times of tightening belts should be used at all times to help make the most of every $. If being more efficient and lean means being a more successful business, than efficiency should be a focus at all times and not just when things get tough!

(Lim Boon Chuan on Jul 24, 2008 1:36 AM) When the economy slows, even the largest of companies have to cut down on R & D, marketing and other misc expenditures. Even more so for small busines owners. It is very easy to say not to stop the marketing efforts but the problem is the small companies are struggling to survive, I won't fault them for cutting down on whatever expenditure so that they can continue. I have been through this so I can say that not that the small companies want to cut down on marketing. Problem is when you cant even feed your employees you have to cut down on whatever needed to have cash to feed them.