It seems come election time politicians and those who curry favor with them are suddenly concerned about small businesses. Much focus for the better part of a year is on the corporate giants, the multi-national corporations, and then when your vote is needed we get to hear how small business owners are the backbone of this country.
Well, of course they are. They always have been and unless more egregious mistakes, miscalculations, and overbearing regulations, drive us out of business, we always will be. For one thing, as it has been reported time and again, people tend to trust us more. We are more responsive and much more personal. Some of us still answer the phone.
According to an article printed in Inc.com small business lobbies and trade groups grudgingly supported the bailout package and applauded its passing, last week. Supposedly there is about $100 Billion in tax breaks and related provisions for small business. We shall see.
If you are a small business, in this very tricky economic climate you have to proceed with caution. No accounts could be someone else’s bad accounts who are coming to you because they have burned their bridges with the last vendor.
If you are planning to hire, the recent layoffs and the layoffs to come will offer a fair selection of skilled employees. But be sure to run background checks on these job candidates. Most will be fine, but again you don’t want to be recruiting someone else’s bad news. Bad news employees will not only cost you in hiring and retraining, but you risk losing clients through incompetence and mishandling. Preemployment screening is a necessity in this day and age.
Above all watch your spending. Money is tight and credit is tough. So watch how you spend your money. That said, some expenditures will prove good investments. But others may just be a waste of cash. Right now, in these bad financial times, everyone and his mother is calling you with some special offer, some promotion, some pitch to gain new business. Most are not worth it. Bad times are bad times. And in bad times to the best way to garner clients is the old fashioned way. Through personal pitches and excellent service. Customers are not impressed when a third party calls them. They are impressed when the owner gives them a shout.
So hang in there. Things change. And if you are a small business then you really are the backbone of this country.
