Posts Tagged ‘Economic Slowdown’

Report on the Economic Health of Small Business in Florida

Article Written By
Dr. Rick Harper, Director
University of West Florida
HAAS Center for Business Research and Economic Development

Key Ingredients for
Florida’s Economic Recovery

Small businesses are responsible for the majority of job growth
in the private sector—addressing the insurance and tax problems will allow them to grow and ensure Florida’s recovery.

It’s again a pleasure to be asked to write about the economy for the Florida Small Business Development Center Network.

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What Are The Best Pricing Practices For Small Business During An Economic Slowdown?

In an economic slowdown your pricing is determined by factors like input cost of production or distribution channel cost etc. ….. which are primarily working on market factors. Generally one should be working on a reactive strategy of open price …. which allows for revision in product pricing over a shorter time period instead of quarterly or yearly market driven slashes or increases.

The important consideration is to try to maintain sales, even if some of them yield marginal or no profit (i,e, break even).

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