Some small businesses are planning for an economic upswing, and they are rethinking business models, launching new marketing campaigns, considering real estate deals, and some even hiring new staff, said the Associated Press.
These business owners say they are moving past short-term thinking about the economy. Donn Flipse, owner of Field of Flowers, floral superstores in Florida, told the AP, “Business is going to get better, so I’m going to do something to position myself to do even better than my competition.”
The real estate market around the country has been especially hard hit by the recession, putting many small companies out of business. But some survivors are looking toward an upswing in the housing market.
Kathy Braddock, co-founder of Charles Rutenberg Realty in New York City, said she’s readying for the next boom in a city where real estate is king. She told the AP the company is improving technology so it can take on more agents – preparing to go from 250 to 1,000.
Lorrie Thomas, who runs an Internet marketing training firm in California, started implementing changes to her business model early in 2008 and launched a new Web site this March.
“That’s the best part, to do it now,” Thomas told the AP. “Other companies, when the boom kicks back in, they’re going to start doing what I did a year ago.”
This article was submitted by Katie Kapler, Director of Online Strategy for Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org.