If you spend enough time following the news, it’s enough to make you wonder if small business can survive. Granted, things like the falling housing market and soaring gas prices are certainly real problems for everyone.
However, when you hear about some corporate-type whining that they had to give up their Starbucks because the economy’s so bad, the line between real problems and a shortage of common sense becomes pretty blurry. So, is the sky really falling? According to a recent study, small business owners say no.
The study, which surveyed more than 700 small business owners with 100 or fewer employees, found that 90% said they see opportunity under current economic conditions and 75% said they expect their business to grow.
Nearly half of those surveyed said the economy levels the playing field between small business and their corporate counterparts, and 65% said they have had experience leading their business through a tough economy. 63% of those surveyed say it’s about customer retention, and others say it’s maintaining good cash flow, which is a big part of what drives small businesses and allows them to do well in any economy.
Small businesses are able to fair better in an economic downturn because they think fast. They are in a better position to move very quickly in terms of how they align their resources. That’s just the way they’re used to doing it, in good times and bad. It all goes back to the passion they have for their business and their customers.
In spite of where the economy is currently headed, America’s entrepreneurial spirit has never been stronger. People are going to see that, as small businesses continue to grow and are a more important part of the economy, it will boost entrepreneurship even more.
Keith Mabe is Director of Operations for Charter Capital, recognized as one of the hardest working independent providers of invoice factoring for small to mid-sized businesses. Chaterc Capital offers a complete line of factoring and related financial services. Headquartered in Houston, Texas, Charter Capital provides accounts receivable financing and asset-based lending for major industries including freight and transportation, consulting firms, service providers, staffing firms, distributors and manufacturers, medical service providers. Find out more at http://www.CharterCapitalUSA.com
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