It is often hard to look on the bright side, especially when your business is in the process of overcoming the worst recession since post WWII. However, there are many reasons that make right now a great time to be a small business owner.
Chris Anderson is Editor and Chief of Wired Magazine. In a recent interview he talks about how small businesses can benefit from the current economy. Here is a list of reasons why it is a great time to be a small business owner in America:
1. Cheap Labor
Unfortunate for them, but score for you! The recent recession left many Americans without work, or working for less than before. Many workers were laid off, demoted, or received pay cuts from 2007 until today. Many graduate students hung their diplomas on the wall, while they sat around the house unable to find work.
The economy has given the employer a huge upper hand, as the job market has been inflated with many qualified and educated workers. You can now get extremely qualified, and talented “labor” for cheap. Reach your business goals and take our business to the next level with the help of talented employees, who you could have never afforded otherwise.
2. Technology is free
These days, there are many ways that small business owners can take advantage of new technology for free. Everything is easily accessible. The technology you need is basically a keyword and search engine away.
3. Big Companies=Big Problems
Many of the same big companies that would have squashed your tiny business in previous years, are too busy dealing with messes to worry about you now. Many large companies are dealing with reorganizing and the problems that follow. While they are struggling to put the pieces back together, you can take advantage of the market. Earn brand recognition and consumer loyalty, and you can corner the market.
4. Globalization is at your service
It has never been easier to sell your products or services to people all over the world. No matter how small your business is, with a functioning website you can sell your items here and abroad, and little expense to you.
5. Never been cheaper
It has never been cheaper to get a business started. Small business owners can now create their own websites and buy domains for free or extremely cheap rates. Acquiring a business loan is also easier now that we are coming out of the recession.
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