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What’s Next For Your Micro-Business
Mixed Signals Abound For Small-Business Owners
Gasoline prices surged – then retreated. The Federal Reserve hiked interest rates 17 consecutive times – then paused. Housing prices soared – then started tanking.
With such mixed signals, what are owners thinking about the health of their small businesses and the economy?
If you’re like most entrepreneurs, you’re cautiously optimistic.
A 2006 Wells Fargo/Gallup Small Business Index released several months ago showed small-business owners remain optimistic. In the survey, 72 percent of small-business owners said their company’s financial situation is very good or good, and 80 percent expect to be better off financially a year from now.
“Most small businesses report that credit remains readily available, despite higher borrowing costs,” says Scott Anderson, senior economist at Wells Fargo.
On the other hand, Discover Business Card released the results of it's inaugural Discover Small Business Watch several months ago. The survey is an index of economic confidence among the nation’s 22 million small businesses with five or fewer employees.
The survey found that small-business owners are more optimistic about the current state of the economy when compared to the general population. However, nearly 60 percent of small-business owners surveyed felt that economic conditions in the country are getting worse.
Almost 40 percent of small-business owners surveyed by Discover indicated that their business encountered recent temporary cash flow issues causing them to hold off on paying certain bills.
What You Can Do
If you’re not feeling optimistic about your small business or the economy’s impact on your enterprise, perhaps you need to make some changes.
The National Association for the Self-Employed (NASE) can help. It offers a variety of free online Success Skills Seminars to guide you toward a more prosperous future. Check out these topics.
"10 Ways To Increase Your Profits Today"
Don’t wait until your small business is bleeding red ink. Take action now. This seminar will show you how to:
Upsell to profitable customers Increase prices without driving away clients Bill and collect on time to improve cash flow Decrease expenses Increase productivity
"Find Financing For Your Business"
Whether you need big bucks or small-time cash, this seminar will show you where to turn for funding. The seminar covers traditional lenders, government sources, venture capitalists and even borrowing from friends or family. Plus you’ll learn how to prepare your paperwork to give you a better shot at loan approval.
"8 Ideas To Strengthen Your Family-Owned Business"
Learn how to market a family-owned small business, plan for succession, groom the next generation and more.
"Secrets To Capturing New Customers"
The secrets to catching new customers are the same whether you’re fishing for blue chip companies or small-fry accounts. In this seminar, you’ll get ideas to help you:
Warm up cold calls Develop word-of-mouth referrals Attract traffic to your Web site Position yourself as an expert in your industry Make yourself memorable
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(Posted October 2006) |
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