“What we’ve done is thought of ways to diversify and broaden our services without having to invest a lot of money doing so…[the recession has] opened our minds to finding ways to use our knowledge and expertise in other areas…”

What a tremendous attitude—this is what makes our small business world so great. Virtually all small businesses have been affected by the recession, but with the typical resilience and perseverance of those business owners, small business will not only survive, but will be poised to lead the new growth when the economy begins its true recovery.

Thanks for this inspirational comment, and in the words of Winston Churchill—Never, never, never give up!

We’re small business owners and even though a tax incentive sounds great for hiring on more staff, being in the construction industry, our problem is lack of work. If homes or commercial properties aren’t being built, our work load suffers. (Our area was hit hard and there is now a lot of inventory on the market.)

Banks are hesitant to lend for new projects because of the inventory of existing properties and even then, unless the person has stellar credit, the banks won’t even consider loaning them money.

What we’ve done is thought of ways to diversify and broaden our services without having to invest a lot of money doing so.

Although the downturn of the economy has hurt our business, it’s opened our minds to finding ways to use our knowledge and expertise in other areas; which wouldn’t have happened if we had stayed as busy as were in the past. So, in that sense, it’s been a good thing…I think.
Barbara Swafford´s last blog ..One, Or A Million

If a business is sitting partially idle because there is no demand for their products or services, what good does tax incentives, or more borrowed money do for them? If the company is not profitable—and apparently 46 percent of U.S. businesses are not at present—no bank is going to lend them money anyway, regardless of the state of the economy…or banking.

But what if there were programs that encouraged…and paid for…research and development so those companies could put at least a portion of their idle capacity back to work and rehire, or hire anew, people to develop new innovative products and services? It doesn’t look like doing the same old things is going to work, so maybe something new should be tried.

Just thinking here.