"Recession, resmession," say some small business owners according to a new poll. It's not that they don't believe a recession is occurring, but instead, they are ready to go on as usual or even benefit from an overall downturn.
A full 85 percent of Intuit's respondents "said they remain passionate about their companies and are not getting discouraged or giving up on entrepreneurship," reports Karen E. Klein. "Indeed, almost 20% of the survey respondents said they are thinking about expanding their businesses in 2008."
In a way, this makes sense; if you remember the character with the plague victim cart in "Monty Python and the Holy Grail," you'll know that there are ways to profit from almost anything. Also, the responses tend to align with the manner in which small businesses hired a lot of new people in March.
Not every business can do well in a recession - it would kind of defy the definition of the term. Small businesses can be more agile than big ones, though, and at least so far, don't seem to be suffering much.
We'll keep our fingers crossed that this remains the case.
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Comments
Yeah whatever...
The recession may discourage new players from starting a small business but anyone already in the game is most likely in too deep to get out now...anyone considering selling their business is likely to hold off until the economy improves before selling.
Owning a small business is often about lifestyle...almost all small business owners have had to tighten our belts somewhere along the way and generally our businesses are more flexible and dynamic than the big corporations which means we are better equipped to deal with economic downturn than the dinosaurs!
Speaking of dinosaurs:
"What is the difference between Google and Jurassic Park?" - One is all about giant lizards devouring everything in their path and the other one is a movie..."
http://www.logicalit.com.au
Recession
It also depends on how bad a recession we end up with. I still recall the horror stories my parents told me about living in the great depression, just before world war 2.
My dad was convinced we went to war, for no other reason than to kill off excess population and spur on the economy. It was also the time men could travel from town to town, farm to farm looking for work, it was a time when rabbits were in plenty, as were blackberries and a few other free food sources.
Now, the farms are less likely to employ starving travellers and the free food sources that were used to supplement meagre rationing, have been all but wiped out by government sponsored erradication programs.
Then climate change is also having it's effect on dwindling the food supply which is now causing high prices.
I could say lots more, but the picture of what happens to people during such times is not something I ever want to see.
With newspapers talking of world wide down turns and the like, depression may not be so far a way, but lets hope the recession doesn't go that far.
I guess too, that many business owners today never really lived through times like that. May be that's why they are more risky in pushing for expansion, rather than recession proofing as best as one can.
I hope so ...
Yes, I hope so. I am the owner of a small company but I am feeling the alarm amongst my customers. They think not twice every single investment. They think it many times. And time goes by, and time is money. I hope you are right.
Regards from Spain
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