Thursday, December 4, 2008

Five Reasons the Economy is FANTASTIC for Small Business. By Minto Roy

1. Corporate Downsizing by large multi-national companies. If you are a small company this is the best time to pursue talent within your industry that have great contacts and information. Many well networked professionals that may have been unaffordable in the past are now looking beyond the corporate giants to entrepreneurial small business. Many with decent severance packages in hand can justify taking a salary cut and even investing in your company’s growth plan.

2. Large companies reducing staff run the risk of diminishing service quality to their clients. Less staff, less resources, could mean that clients expecting premium service might be disappointed to learn that reps they dealt with are gone. A great time to pursue these clients that might consider moving their business to your small business and deal directly with the owner.

3. Public support. In this era of corporate bailouts, outlandish corporate salaries and rollercoaster stock dips, the strength of small business and access to the actual owner is comforting to the public and consumer market. The public has far more trust in the mom and pop shop businesses than in the corporate giants of the plummeting stock market.

4. Small business is nimble and reactive. Corporate giants have thrown down their anchors in their attempts to ride the economic storm. Millions of “No More Spending Memos” have been sent across North America, corporate layoffs, salary rollback, no more travel, no more client lunches, dinners etc… Large corporations are making it harder for their sales staff to close new business. Small business can strategically target key clients held by the corporate giants. Small business can react and create innovative approaches, incentivise their sales reps to travel the red-eye and take advantage of every opportunity to close deals.

5. Global Thinking. Small business can initiate and launch into new market globally where interest and consumer markets spending still want their products. Large corporations require significant re-structuring and re-tooling and significant capital to pursue new markets. Small business can decide tomorrow if they want to expand globally. No red tape required, small business comes with the freedom to hire an agent or a representative in China and India to sell their products via agent agreement and become international overnight.

So let the newspapers continue to grow their business and sell newspapers with rampant negative stories of layoffs, restructuring and large business contract cancellations and the decline of the corporate giants. It should be all good news for small business.

Minto Roy, President / Partner
RevGen / Careers Today Canada /

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