SmallBusinessNewz

Studies show the economy is improving not only for small businesses, but also because of small businesses. One study from the Small Business Research Board says more owners and managers of small food and beverage businesses are planning to increase hiring during the next year and anticipate an increase in employees in 2008 compared to 2007.

This news is a boost for small businesses since most headlines read about the woes of the 2008 American recession. Economists are continually debating whether or not we actually are in a recession.

Many financial advisors across the U.S. argue that we are not in recession since it is defined as: “a period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters.”

By that definition we are not in recession since the first quarter of 2008 grew at a 0.6% annual rate. Although it did not grow a considerable amount, the economy did still experience growth and not reduction.

It’s interesting to note that since we live in such a global economy, small businesses have the liberty to become international businesses. With that being said, China and India have recently been experiencing incredible economic growth. Despite the horrific earthquake China recently experienced, reports do not suspect it will impact the economy.

Find out more about how small businesses can put their economic woes behind them in the SmallBusinessNewz video.