economy
Published October 8th, 2008
Q: Are small businesses really having a hard time right now? Everything seems OK to me. Sure, gas prices are higher, but all in all, things are fine.
Phil
A: I’m sorry, but I simply disagree. I think things are pretty tough right now for most small businesses. That said, nevertheless, I will admit that there is a surprising amount of debate on this issue.
Case in point: I hosted a roundtable event of small business bloggers in New York last week. The event was sponsored by Brother and the topic was, "Who says a slow economy has to slow... Read more
Tags: advice, column, economic crisis, economy, small business, small business expert, Steve Strauss
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Published August 25th, 2008
Q: I own an upper-end shop in New York and we too are being hit by the economic slowdown. With people looking for bargains, how to we compete without hurting our brand?
Jenna
A : There is no doubt everyone is feeling the pinch of the economic downturn these days and woe to the business that doesn’t react in accordance with the times.
Back at the turn of the 20th century, the automobile was a newfangled contraption. But even so, it was apparent almost immediately that it was also a revolutionary item that was here to stay. That is one... Read more
Tags: competing with other businesses, economic downturn, economy, expert advice, MrAllBiz.com, small business expert, Steve Strauss, tips
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Published June 10th, 2008
Ladies and gentlemen, it’s true. The recession-proof shopper is here and she’s here to stay. A new study commissioned and soon to be published by Elle magazine concludes that 8% of U.S. women are still shopping up a storm and show no signs of slowing down. (for full stats check out this article)
So what do you think? Do you think these ladies have what it takes to keep the economy (and businesses) afloat this year? I for one think that it certainly won’t hurt…but it’s not going to come anywhere close to how well those stimulus checks worked-wait….
If... Read more
Tags: consumer, economy, Rebecca Button, recession, retail, shopping
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Eve Tahmincioglu who writes the Your Biz Blog over at MSNBC.com had a great post today where she enlisted the help of business coach Dan Murphy, president and founder of The Growth Coach , to help cast some rays of hope down upon businesses that are suffering recession doldrums. I thought I might help spread the word a bit.
His tips are sure to help you regain a sense of perspective and lead you to taking active steps in maintaining your business. His advice comes in the tried and true form of the acronym: M.A.S.T.E.R. (as in MASTER your business)... Read more
Tags: economy, Growing Your Business, Rebecca Button, recession
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I’m sure you’ve heard all the ruckus surrounding American Airline’s announcment that it will initiate a checked bag fee as well as increase fees for other services on top of jacking up actual ticket prices. All in the name of the weak economy and soaring fuel prices.
There’s the saying that you can’t please everyone. And it’s true, especially if you are in an industry that serves millions of people a year. But what happens when you don’t please the majority of your customers? Sit back and watch in the next few weeks.
The following are some of the major... Read more
Tags: american airlines, economy, fuel prices, oil prices, prices, Rebecca Button
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Published April 30th, 2008
Expanding overseas is a common idea entrepreneurs have in their business plans as a "down the road" growth option but with the recession and subsequent weakening of the U.S. dollar, it might just be the key to keeping your business afloat. Many companies are able to sell their products for twice as much as they can here!
While opening a brick and mortar store is certainly optimal, if you are a small company who doesn’t think you can spare the capital to do so, don’t fret. Another perfectly viable option is to open an international website (ie. a .uk site).... Read more
Tags: Doing Business Internationally, economy, global business, international business, national retail federation, Rebecca Button, STORES Magazine
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Published April 28th, 2008
It’s begun. The Great Consumer Schism is effectively working its way through America-an event last experienced in this country in the ’70s. Economic disparity in America is nothing new. But in times of recession the division is inflated and even more apparent as seen through shifts in spending habits. It makes perfect sense of course that middle to lower income households are switching from brand name items to generic in order to save a few bucks.
So what does this mean for retailers? Well, if you sell cheaper products, this is great news! If you sell brand name (and therefore... Read more
Tags: brand name, economy, Generating More Sales, news, Rebecca Button, recession, retail, Sales
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Published April 22nd, 2008
Crude oil prices are up 16% already this year and show no signs of slowing down. So without further ado and straight from the dailybreeze.com here are 10 great tips on how small businesses can deal with the soaring gas prices:
1. Add a separate fuel fee. Call it a fee, call it a surcharge - call it whatever you want. But more and more small businesses are tacking on a special charge to offset the cost of gas. Customers may not be happy, but most understand since they’re dealing with the same situation themselves. They don’t expect small businesses... Read more
Tags: economy, Finance and Accounting, gas prices, Rebecca Button, small business, tips
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Published February 21st, 2008
Small businesses are some of the most affected by economic downturns. While these practices can and should be implemented during times of prosperity as well, they will help businesses survive during a recession.
Get involved: Don’t just join local organizations and charities–get on the committee board! This not only will help you stand out and make a name for yourself, but it will also get you meeting and working with more people. Also always keep in mind that strangers you strike up conversations with at the grocery store or fellow parents at a PTA meeting can be new customers/clients. It’s... Read more
Tags: Accounting, economic crisis, economic downturn, economy, Finance, Finance and Accounting, Generating More Sales, Rebecca Button, recession
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Published February 12th, 2008
With the US economy going through a widespread malaise at the moment, and a dollar that’s struggling to stay ahead of many of its once lesser counterparts, it’s been a tough time for businesses. Especially small business owners, who often rely on a strong dollar to make any profits. Therefore, when Senator John Kerry announced an incentive to help businesses, it couldn’t have come at a better time.
Kerry’s economic stimulus plan targets small businesses over larger ones, and its key features include tax incentives for small businesses, offering double funding for specialist micro loans, and reducing the overall fees... Read more
Tags: danny brown, Economic Growth Act of 2008, economy, government, news, small business, stimulus package
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