Summer of 2008 - Not a prosperous one so far at my end
Earl L. Sigmund
1 Comment
From what I have seen so far this summer, this summertime will be one for the record books for most small business owners. Restaurants are less crowded for the most part........forget the "everyone's on vacation excuse" and "nothing special" restaurants are closing right & left. For the most part mom & pop retail shops are reeling from lower sales and are refocusing their energy on watching their spending now and banking on the cool fall weather and holiday rush to rescue them from the doldrums of the current economic slump. Service businesses seem the least effected by the slump, but they too are getting sqeezed by fewer large orders and offsetting higer operating costs generated primarily by soaring energy costs. Consumers are starting to resign themselves to the harsh reality that $4.00 gas is not going away and that other areas of consumer expenses must be held in check (eg. eating out, expensive vacations, etc.). How is your business faring this summer? What expenses are you cutting back on?
Reader Comments (1)
Well, the advertising industry has not been hurt by the economy this year. In fact, with a competitive and shrinking market, it is a thriving industry. Many smart business owners know that they need every customer they can get. Advertising is an opportunity to keep your name out there. Those who do, find that it is the only way to survive. Sure, it cuts into the net profit margin but in today's market it is better than going out of business.