Why It's Always a Good Time to be a Small Business
Friday, July 3, 2009
"It's always a good time to be a small business" says Mike Masnick from the Open Forum by American Express. At Harvard Business Services we strongly agree with this statement. We have always believed that entrepreneurs are the innovators of our society. According to the Small Business Administration the latest figures show that small businesses will create more than 65% of America's new jobs and that small businesses create more than 50% of the American non-farm private gross domestic product. Those are some impressive numbers. Below is an excerpt from the article that reminds us of some of the positives of being a small business no matter what is happening to the economy:
- As a small business owner, you’re not relying on the entire economy. You’re relying on your customers. If you offer something of value, you should be able to sell it to your customers, regardless of the economy. Sure, some of your customers may be more careful in spending, but that’s just an opportunity for you.
- As a small business, you can be a lot more flexible. Big businesses have all sorts of legacy items that tie them down and make them slow. Smaller businesses shouldn’t have as many entanglements and can change and adapt much faster. If the economy goes south, then a small business can shift its strategy faster.
The Small Business Manifesto: It’s Always A Good Time to be a Small Business