Thursday, October 7, 2010

September 2010 Job Growth in Small Business

While small businesses across the United States did increase the number of jobs they created in September, it was a smaller increase than in August. According to the Intuit Inc. Small Business Employment Index, 27,000 new small business jobs were added nationwide in September, compared to 39,000 added in August. You can read the full September 2010 report.

This means that small businesses still have a chance to survive and thrive in this tough economy. Many small businesses are reluctant to hire at this point because of uncertainties in government regulations in regards to the new health-care reform and financial regulatory reform bills. And, still other small business owners are worried that we might enter into a double-dip recession. While I can’t say that I blame businesses for this, sometimes the best tactic is to get out there and do what you need to do for your business. When the dust settles and we finally know how these new laws will affect everyone and how long the economy will take to steadily grow again, then you can start to make cuts or adjustments as needed. Unfortunately, we can’t predict the future but we can be prepared for additional hard times while simultaneously taking advantage of an opportunity to come out ahead of the competition!

One other note, maybe your business or the business you are considering starting, is one of the businesses that thrive in a recession. Some businesses, like lower-end fast-food joints and discount retailers, actually increase business in down economic times. As you investigate your business, maybe there is an area that you could ramp up operation in order to minimize your overall corporate risk. Hedge your investment!

(Image: Some rights reserved,  kevinhengli.)

No comments:

Post a Comment