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TwitterThere are many of us at the Small Business Development Center who believe that this is a good time to start a business. While it certainly is not a great time to get a bank loan for working capital, there are several key attributes found in businesses that open in a down economy. These entrepreneurs tend to be very committed to researching their idea thoroughly, select partners more carefully and weigh purchases more wisely than free spending business owners earlier in this decade.
Posts Tagged ‘Great Time’
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What Are The Best Pricing Practices For Small Business During An Economic Slowdown?
December 3rd, 2008 
admin 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).
Small Business: How Do You Adapt In Times Of Financial Crises?
October 13th, 2008 admin It’s not news that things are tough today. For small businesss and sole proprieters especially. For example it has become very difficult to spend money on non-critical activities. It also means having to let go people (if you have employees). But it seems also that by doing so, we loose on competitiveness. It is a real catch 22. How do you adapt?
