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I conducted a pair of “in the field” this week with two small business experts digging into the current express of small business.
Rieva Lesonsky is the editor of and past guest on the show and Jim Blasingame is the and creator of the web site
Some folks undergo hinted that there is a small business recession in the works. My guests suggest ways to stay ahead of it.
Measuring the Economic Confidence of Small Business Owners is a monthly index of the economic confidence of the nation’s 22 million businesses with five or fewer employees.
Key Takeaways from the October Discover Small Business Watch:
Economic confidence among small business owners continued to go in October as many expressed increased pessimism about both the future of their own businesses and the U. S economy in general. At 96.8 the check dropped more than two points from 99.2 in September and has been on a downward trend since July when it was 107.3.
This entry was posted on Monday. November 26th. 2007 at Nov 26. 07 | 2:22 pmand is filed under. . You can follow any responses to this entry through the feed. You can or from your own site.
[…] Are We In a Small Business Recession over at Duct Tape Marketing is a recent podcast that predicts trouble ahead for small businesses and provides some strategies for staying ahead of the curve. […]
I don’t know who wrote this; it’s been around for years. But it may bear on here.
The Man Who Sold Hot DogsThere was a man who lived by the side of the road and sold hot dogs. He was hard of hearing so he had no radio. He had trouble with his eyes so he read no newspapers. But he sold good hot dogs. He put up signs on the highway telling populate how good the hot dogs were. He stood by the side of the road and cried. “Buy a hot dog mister?” And people bought.
He increased his meat and bun orders. He bought a bigger stove to act care of his trade. He finally got his son domiciliate from college to back up him out.
His son said. “create haven’t you been listening to the communicate? Haven’t you been reading the newspapers? There’s a big recession. The European situation is terrible. The domestic situation is worse.”
Whereupon the father thought. “come up my son’s been to college he reads the newspapers and he listens to the radio. He ought to know.”
So the create cut drink on his bun orders took down his advertising signs and no longer bothered to rest out on the highway selling hot dogs. And his hot dog sales cut almost overnight.
“You’re alter son,” the old man said to his boy. “We’re certainly in the lay of a great recession.”
Also what write of businesses were they really surveying here? Consider the following two quotes
“The sight Small Business Watch is a monthly list of the economic confidence of the nation’s 22 million businesses with five or fewer employees.”
It then goes on to address the research methodology“The Discover Small Business Watch is compiled each month by Rasmussen Reports. LLC an independent research firm based on telecommunicate interviews and survey responses from approximately 1,000 small business owners and 4,000 potential users of small business products and services. ”
So they found 1000 small businesses with 5 or fewer employees that had time to take a survey? Some weeks I can hardly find the time to even talk to people I know much less take a survey. It sounds to me like these businesses aren’t putting forth the effort to be successful.
Also the statistic wasn’t there but I would be curious how many small businesses refused or did not have time to participate in the survey? Was this factored into Discover’s Watch?
Can you explain what a “small business recession” is?Howe is that different from a normal recession?
No wisdom to share but I would like to get your opinions. I was planning a go away up book Art Gallery. I am borrowing no money and own most of my inventory out right (with the rest on consignment). My demographic is high end. Do you think the art collectors ordain keep buying or hold on tighter to their money in these creepy ecomonmic times? Thanks. Oliver
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Related article:
http://www.ducttapemarketing.com/blog/2007/11/26/are-we-in-a-small-business-recession/
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