Small Business Blog

Posts Tagged ‘Recession’

 The New Basics of Business

With unemployment continuing to rise, home prices falling due to a surplus of inventory, and small business lending at a standstill, this recession doesn’t seem likely to end soon.  The recovery will be slow and Americans will certainly not enjoy the prosperity of a few years ago for a long time to come.  It’s not just economists who think this way.  ”Half the population in [a] new ABC News poll  thinks both job security and retirement prospects in the years ahead will remain worse than their pre-recession levels.”  (“Poll: Less Job Security is the ‘New Normal,’” ABC News The Polling Unit, June 15, 2009, analysis by Gary Langer) This confidence, or lack thereof, is an integral part of an economic cycle.  The analysis goes on to say, “Those diminished expectations – plus the pain of the current downturn – are fueling retrenchments in consumer behavior that could fundamentally reshape the economy.”   

Basically, consumers are hunkering down to limit spending, save money, conserve resources, and change the way they’ve been living.  The major influence on the health of an economy is the psychological state of its consumers.  When there exists a broad belief that spending beyond necessity is unwise, people will change their habits and as a result, some businesses will have to close their doors.  The economy is molting into a new, leaner animal.  Rather than react in desperation to avoid doom, firms should interact with the current situation with innovative and forward thinking actions.  

No matter the economic slump, increasing profits is typically the number one goal of any business.  To ensure profitability, a company must demonstrate a competitive advantage over others in its industry, either by cost leadership (same product as competitors, lower price), differentiation (same price, better services), or focusing on an exclusive segment of the market (niche).  For long term maintenance of competitive advantage, a firm must ensure that its methods cannot be duplicated or imitated.  This requires constant analysis and regular reinvention of competitive strategies.  

A recession is the optimal time to reinvent competitive advantage because the pressure of a feeble economy will separate the strong businesses from the weak ones, with the weak falling out of the game entirely.  Your business will be strong if you have a plan of action based upon a little industry research, an analysis of what you have and what you want, and continuous monitoring of the results of your plan.  This kind of innovation is not only a necessity right now, but it is an opportunity to improve the quality and efficiency in the way you do business.  

The three basic actions for growing a business in any economic climate are: improve efficiency (maintain output while reducing inputs, such as time and money); increase volume (produce more in order to spread fixed costs); reorganize the business (change goals, methods and/or philosophy).  If you plan to implement one of these, you may as well plan to implement them all.  By focusing on one of the above strategies, you will find a ripple effect that causes a need to address the others.  This is a good thing.  

Right now, growth may sound like an unattainable goal as businesses are grappling just to survive, but hey, “flat is the new up.”  If a business can keep its doors open and lights on, then it’s doing better than many others.  But lights and open doors don’t make sales, so making changes that attract business is in a sense, striving for growth.  It won’t be this tough forever, but for now, putting some growth strategies into action may be what keeps your business alive, if not thriving.  

 

Every Business Needs a Plan  

Without a plan, there is little hope for growth, let alone survival.  As my small business development counselor, Terry Chambers says, “If it’s not written, it’s not real.”  That doesn’t mean it’s unchangeable, but it does show that you mean business.  In order to accomplish your strategies of improving efficiency, increasing volume, and reorganizing your business, you’ve got to examine what you have, what you want, and how you plan to get there.  

Sometimes it takes a significant event or change in existing conditions for a business to create a written plan.  I think it’s safe to say that the state of the economy is a significant change that should prompt business owners to alter the way they’ve been doing things.  If you already have a business plan, it’s time to get it out and revise it.  Make sure your plan includes answers to these questions:  

What do I want to accomplish? What do I have to work with? How have I done in the past? What might I do in the future? What will I do now? How will I do it? Is it working? 

 

A business plan can be used as a vehicle for accurate communication among principals, managers, staff, and outside sources of capital.  It will also help to identify, isolate, and solve problems in your structure, operations, and/or finances.  Along with these advantages, a business plan captures a view of the big picture, which makes a company better prepared to take advantage of opportunities for improvement and/or handle crises.  

Essentially, the three main elements of a business plan are strategies, actions, and financial projections.  In order to cover all of the principle elements, you will engage in other types of planning:   

Marketing plan: Includes analysis of your target market (your customers), as well as the competition within that market, and your marketing strategy.  This plan is usually part of the strategic plan. Strategic plan: Asses the impact of the business environment (STEER analysis: Socio-cultural, Technological, Economic, Ecological, and Regulatory factors).  Includes company vision, mission, goals and objectives, in order to plan three to five years into the future. Operational planning: With a focus on short-term actions, this type of planning usually results in a detailed annual work plan, of which the business plan contains only the highlights. Financial planning: The numerical results of strategic and operational planning are shown in budgets and projected financial statements; these are always included in the business plan in their entirety. Feasibility study: Before you decide to start a business or add something new to an existing business, you should perform an analysis of its strengths, weaknesses, opportunities, and threats (SWOT analysis), as well as its financial feasibility, then asses its potential sales volume.

 

The process of business planning does not end when the written plan is complete.  Business planning is a cycle, which includes the following steps:  

Put your plan of action in writing. Make decisions and take action based upon the plan. Gauge the results of those actions against your expectations. Explore the differences, whether positive or negative, and write it all down. Modify your business plan based upon what you learned.

 

President of Palo Alto Software, Inc. and business planning coach Tim Berry says, “Planning isn’t complete unless you’ve planned for review.”  Review is the fundamental action that initiates putting your business plan into action.  In his blog at Entrepreneur.com, Berry lists some insightful strategies to making good use of your plan review, a few of which include keeping the review meetings as brief as possible and an emphasis on metrics as key to effective review.

Write your business plan in sessions.  Don’t think that you have to produce a business plan before go to bed tonight or you won’t be able to open your doors for business tomorrow.  I like Tim Berry’s Plan-As-You-Go method of business planning.  The practice of planning is an effective way to really get to know your business and you might end up discovering some important things about your company and about yourself.

There are various strategies and outlines available that will guide you in choosing the appropriate format for your business plan.  Check out the collection of sample business plans for a variety of businesses at Bplans dot com.  Every business is different, therefore every business plan will be structured differently, but for the purposes of this white paper, I will present the fundamental elements that make up strategic, operational, and financial planning.  Here is a basic outline, thanks to NxLevel® for Entrepreneurs (2005, Fourth Edition): 

 

             General Business Plan Outline  

                Cover Page  

                Table of Contents  

                Executive Summary  

                Mission, Goals and Objectives  

                                General Description of the Business  

                                                Stage of Development  

                                                General Growth Plan Description  

                                Mission Statement  

                                Goals and Objectives  

                Background Information  

                                The Industry  

                                                Background Industry Information  

                                                Current/Future Industry Trends  

                                The Business Fit in the Industry  

                Organizational Matters  

                                Business Structure, Management and Personnel  

                                                Management  

                                                Personnel  

                                                Outside Services/Advisors  

                                                Risk Management  

                                Operating Controls  

                                                Recordkeeping Functions  

                                                Other Operational Controls  

                The Marketing Plan  

                                Products/Services  

                                                Products/Services Description  

                                                Features/Benefits  

                                                Life Cycles/Seasonality  

                                                Growth Description (Future Products/Services)  

                                The Market Analysis  

                                                Customer Analysis  

                                                Competitive Analysis  

                                                Market Potential  

                                                                Current Trade Area Description  

                                                                Market Size and Trends  

                                                                Sales Volume Potential (Current and Growth)  

                                Marketing Strategies  

                                                Location/Distribution  

                                                Price/Quality Relationship  

                                                Promotional Strategies  

                                                                Packaging  

                                                                Public Relations  

                                                                Advertising  

                                                                Customer Service  

                The Financial Plan  

                                Financial Worksheets  

                                                Salaries/Wages & Benefits  

                                                Outside Services  

                                                Insurance  

                                                Advertising Budget  

                                                Occupancy Expense  

                                                Sales Forecasts  

                                                Cost of Projected Product Units  

                                                Fixed Assets  

                                                Growth (or Start-Up) Expenses  

                                                Miscellaneous Expenses  

                                Cash Flow Projections  

                                                Break-Even Analysis  

                                                Monthly Cash Flow Projections – First Year  

                                                Notes to Cash Flow Projections (Assumptions)  

                                                Annual Cash Flow Projections – Years Two and Three  

                                Financial Statements  

                                                Projected Income Statement  

                                                Balance Sheet  

                                                Statement of Owner’s Equity  

                                Additional Financial Information  

                                                Summary of Financial Needs  

                                                Existing Debt  

                                                Personal Financial Statement  

                Appendix Section  

                                Action Log  

                                Supporting Documents (Resumes, Research Citations, etc.)

 

Executive Summary  

A business plan starts with an executive summary, which is a one or two page summary of your business plan, or an introduction to your business.  Although this section is at the beginning of the business plan, it is the last thing to be written.  You’ll be able to condense your business plan more succinctly once you have the opportunity to work through the other parts of the plan.  The executive summary may be the only thing a potential investor or financier will read, so write it last because it has to be the most compelling.  

Start by writing a description of your business, including what stage of development it is currently in (conception, start-up, first year, mature, exit) and your plans for growth.  Discuss the nature of your business, the main products and services you offer, the market for your products and services, and how and by whom the business is operated.  

 

Mission Statement  

Then work on your mission statement.  Here is where you concisely state the focus, scope and hope of your business (or values, vision, philosophy, and purpose).  What is the customer pain you are soothing, the need you fulfill?  Here’s an example from Coca-Cola: 

“Our Roadmap starts with our mission, which is enduring. It declares our purpose as a company and serves as the standard against which we weigh our actions and decisions.  

To refresh the world… To inspire moments of optimism and happiness… To create value and make a difference.”

 

PepsiCo has a different take:   

“Our mission is to be the world’s premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.”  

This is the mission statement of Inspiration Software®, Inc.:  

“Our company strives to support improvements in education and business and to make a positive difference in our users’ lives by providing software tools that help people of all ages use visual thinking and visual learning to achieve academic, professional and personal goals.”  

 

Goals and Objectives  

Next, outline your company goals and objectives, including long-term and short-term goals.  You will get into more detail on how the goals will be accomplished in your operational plan and annual work plan, so focus on brevity at this stage.  There is a difference between goals and objectives and it’s important to know what that is.  I like how Andrew Smith explains it in The Business Plan Blog.  Objectives are non-emotional, precise descriptions of what is needed to achieve a goal.  Goals can involve emotion and don’t have to be as specific as objectives.  Objectives are the steps to actualizing the goal.  Here’s an example:  

Goal:  

                To have positive cash flow by the end of the year.  

Objectives:  

                Increase sales by 50%.  

                Offer customers a 1% discount for paying invoices within 10 days.  

                Increase efforts to collect on accounts receivable before invoices have aged 60 days.  

Of course, you will need a plan of strategies in order to accomplish each objective, but those details will be expounded upon in your annual work plan.  A list of three short-term and three long-term goals, along with the objectives necessary to achieve them, is sufficient for most business plans.  Remember to replace the goals and objectives with new ones as you check them off your list.

 

Background Information  

The section that details the background information should start with identifying the industry your business is in.  Even if you are not a member or have no intention of becoming involved, you should list any trade associations within that industry; you never know when you made need those connections.  Find out what publications, magazines or journals are available to businesses in your industry.  Use these and other sources of business information to identify how past trends (economic, social, political) affected the industry, as well as any current or future trends that may have an impact.  

How does your business fit in the industry?  What is the history of your business, including who started it, what changes have occurred, when was it started, where was and is it located, how was it started and operated, and why it was started?  What barriers to entry, if any, have you recognized?  

   

Organizational Matters  

The ownership hierarchy of your business, the management structure, and the personnel are described in the section on organizational matters.  This part of the plan deals with who, what and how your business runs.  Who is in charge of what and how are they qualified?  Discuss how the various parts of your business interact together; include details about outside contractors and consultants and what functions they perform.  See the example below, thanks to Edraw Soft Vector-Based Graphic Design.  

The organizational section of the business plan also needs to include an explanation of your record keeping process, checks and balances, and control management systems.  Anyone who reads your business plan should be able to understand the organizational procedures for running your business day-to-day, as well as in an emergency situation.  

The risk management plan needs to be fleshed out in the organizational section as well, including your risk strategy, the different types of insurance required, your contingency plans, and problem-solving protocols.  What will you do if a natural disaster ruins part of your inventory?  How will you handle the sudden illness or long-term absence of a key manager?  What happens if you are unable to finish a project on schedule?  What are some early warning signs to watch for?  

It may not be pleasant to imagine all the “what ifs,” but doing it now and planning for those unexpected events will improve your company’s chances of surviving a storm.  For an excellent step-by-step guide on the details of developing a risk management plan, see the article “How to Develop a Risk Management Plan,” by Charles Tremper at wikiHow.com.  

   

Marketing Plan  

The next section, themarketing plan, gets into the details of what your business offers and what market it serves.  Marketing is the communication of how your products and services “ease customer pain.”  Show the problem and how your business solves it.  Marketing is a necessity for every business because once your doors are open, you must invite customers to come in.  Everything you do in your business that affects customers is marketing because it sends a message about your company.  

This part of the plan details the features and benefits of your products and services, their seasonality and life cycle, as well as any future products and services you are planning.  It also includes a thorough market analysis, in which you will study your customers, your competition and the market itself.  Here you should include a PEST analysis, in which you will consider the impact of various factors upon your business.  The factors include combinations of the following, depending upon your business:  social, technological, economic, environmental, political, legal, ethical, and demographic.  

Studying your market will give you insight as to how you can make your business more appealing to people.  Market research is more than just noticing trends in your customers’ buying habits; it’s discovering what motivates your customer to buy.  Don’t assume that you already know because you’ve been in this business for years.  This study often unearths characteristics about your market that are hidden or new.  It’s best to discover these things before your competition.  

Another key element to the marketing section of your business plan is an outline of your marketing objectives, strategies, and tactics.  Writing down the avenues you travel in order to market your business will afford you the opportunity to record what worked and what didn’t work.  You must be able to measure and calculate the results of your marketing efforts, otherwise, what’s the point?  If you don’t know if something is working for or against you, then it’s working against you.  

Include details about all of the following that are applicable to your business in the marketing section of your plan: location and distribution, and promotional strategies, such as packaging, public relations, advertising, and customer service.  As a result of exploring these areas, you will naturally need to consider how much you will budget for your marketing efforts.  This question is closely connected to your sales forecast, which leads us into the next section of the business plan.  

  

Financial Plan  

The financial plan consists of four sections: Financial Worksheets, Cash Flow Projections, Financial Statements, and Additional Financial Information.  All of these components will tell the story of how you plan to start or grow your business from a financial perspective.  It is vital that you explain the assumptions under which you have based your projections, for example, “We assume that there are no unforeseen changes in economic policy to make our products and service immediately obsolete.” or “We assume interest rates will stay the same over the next three years.” (both quotes from Bplans.com sample business plans)  

I suggest that you construct easy to read tables and graphs for the financial portion of the plan.  The worksheets suggested are: Salaries/Wages and Benefits, Outside Services, Insurance, Advertising Budget, Occupancy Expense, Sales Forecasts, Cost of Projected Product Units, Fixed Assets, Growth (or Start-Up) Expenses, and Miscellaneous Expenses.  You may find some of the worksheet templates at PlanWare.org to be useful.  

The expected revenues and expenses for at least a year should be projected in the cash flow section of the Financial Plan.  It’s better to make conservative predictions rather than be too optimistic when it comes to cash flows.  As part of this section, a break-even analysis is essential.  This is the “amount of units sold or sales dollars necessary to recover all expenses associated with generating these sales.” (NxLevel for Entrepreneurs, 2005)  The formula for calculating the break-even quantity is Total Fixed Costs/(Price – Average Variable Costs).  

The financial statements section should show the way things are now if you have an existing business, as well as a forward look at your checking account, or projected income statement.  The only way a start-up company can provide an income statement and balance sheet is by projecting these figures based upon well defined assumptions.  Both start-ups and existing businesses should include a statement of owner’s equity.  

An income statement shows revenues minus expenses, in order to calculate net income or net loss.  Start-ups should project these expected results for the first twelve months of business, then quarterly for the next two years.  A list of a company’s assets (what you own), liabilities (what you owe), and net worth (assets minus liabilities) is called a balance sheet.  The statement of owner’s equity shows the owner’s initial investment, additional investments, and retained earnings, minus owner withdrawals.  

The additional financial information at the end of this part of the plan should give a summary of your business’s financial needs in order to grow, show its debt position, and state the owner’s financial status.  

   

Appendix  

In the appendix, which is the final section, an action plan or timeline for implementing the business plan should be presented.  This is where the detailed goals and objectives are expanded in a work plan.  Also, include in this section any additional information or supporting documents that are relevant to your business plan, such as important research, marketing materials, product specifications, and owner and employee résumés.  

   

Executive Summary  

Now that you have written the hard part of your business plan, it’s time to write the fun part, the executive summary. As mentioned in the beginning of this white paper, this is the most important piece of the business plan because it illustrates the very essence of your business in a captivating and condensed form.  If you ever share your business plan with a potential investor or potential buyer, the executive summary may be the only thing that is read.   

Make the executive summary brief (no more than two pages), but make sure you showcase the best qualities of your business without glossing over important information; show why yours is a winning business.  Write one to three sentences about each of the following:  

General description of the business Mission statement Management structure Business operations Products/services, the market and your customer Your marketing plan, including the competition Financial projections and plans

 

A clear, concise, and convincing executive summary will intrigue your audience and inspire them to read the rest of your plan.  If the plan is never seen by anyone outside of your business, don’t assume it was a waste of time.  During the planning process, you will have worked through an enlightening exercise that prepares you to run and grow a better business.  

Having this written document available for frequent consultation and review will improve your chances of not only surviving, but coming out strong on the other side of this recession.  Most people think that knowing in the back of their mind what they plan to do is sufficient for survival or recovery, but the difference between a written plan and an idea is usually the difference between failure and success.  

   

   

 

Are you ready for the recession? Here’s how you can turn it into an opportunity to survive and thrive: set up your own online business and create an extra stream of income.

Starting a new online business does not mean that you have to give up your current job. You can set it up doing extra work in your evenings and weekends and keep your income from your current job while the income from your new business grows.

So what do you need to do to maximise the chances of success of your new business?

Find something that you’re either good at or passionate about. Then you need to research and plan properly.

Here are 8 questions – answer them in full for your situation and you’ll have the basis of a sound plan for your business:

1. What are your skills?

Can you teach? Can you write? Can you sell? Are you technically proficient?

2. What do people want to buy? In a recession.

Luxuries and frivolous things are not going to be at the top of people’s shopping lists if they are struggling with the effects of recession. Necessities are.

3. Is there a market?

Is there a demand for it? How much would people be prepared to pay for it? What will affect demand for it (e.g. weather, strikes, competition) and how? How much competition is there? How much is your competition charging?

4. What will the process be?

How are you going to make it? How are you going to market and sell it? How are you going to deliver it? How are you going to get people to pay you for it?

5. What are the dependencies?

What type of premises do you need? Do you need outside suppliers – if so for which parts? Do you need licences – if so what licences? Do you need special equipment? Do you need staff?

6. What are the costs?

Premises, raw materials, suppliers, marketing, delivery, license costs, staff costs, lawyers and accountants, day-to-day operational expenses.

7. How much money can you make?

How much can you sell it for? How many can you sell in a week/month/year? What sales channels will you use? How will you promote it?

8. Do you have sufficient funds?

What are the start-up costs? What are your marketing and promotion costs? How long before you can break even? Where is the funding going to come from?

It doesn’t matter what type of business you’re thinking of, going through that checklist is a good way to make sure you’ve got most things covered.

Use the answers to those questions to create your business plan.

And here’s some good news: if you start an online business many of the items above won’t apply.

With an online, affiliate marketing business, for example, your start up costs would be negligible, your delivery and logistics costs zero, you would have no need for special equipment or premises and no need for separate outside suppliers.

But you still need to develop a plan!

It’s important to remember that, whether your business is online or off-line, it’s still a business.

Don’t be taken in by all the promises of easy money online. It simply isn’t the case – if it was everyone would be doing it!

But, as long as you treat it like a real business, you can make a lot of money online.

There are lots of resources available to help you with developing and promoting your online business – just make sure you pick top quality ones.

And beware (and avoid) the snake oil salesmen: those who promise huge monthly incomes for doing just a few hours work a month.

The global financial crisis has made it quite difficult for companies, especially small businesses, to get business loans. Ironically, it is also in this situation that smaller companies often need additional capital infusion to boost income. You may need to get small business loans to acquire a better business location, construct a new building, renovate your premises, pay for new equipment, fixtures or furniture or increase inventory and working capital.

Most Small Business Loans Require Collateral

To get business loans, even small business loans, is a major challenge.

First you need to identify which among the many types of small business loans you need. Small business loans ranging from $5,000.00 to $35,000.00 are called micro loans. For larger needs, such as for the acquisition of land, buildings and other major fixed assets, development financing is what you should find. There are also import export loans as well as franchise financing. Do your research to find out if you are qualified for small business loans guaranteed by the U.S. Small Business Administration or SBA.

Any of these small business loans will require extensive preparations and paperwork. As a small business owner, you will need to prove your credit worthiness through a personal credit history report. Lenders will also require a business plan which includes your credentials as the business owner, your company financial statements, business assets and an analysis of your market. All of these should be packaged in a professional loan proposal which presents how the loaned amount will be used to strengthen the business and how you intend to repay the loan. Most of all, you need to present your loan collateral – the assets you will put up to secure the loan.  

Quick and Easy Small Business Loans with No Collateral

For smaller acquisitions or day to day business needs, there is a way for entrepreneurs to get small business loans easily and quickly with no collateral. This is through merchant services.

Merchant services provide credit card services to businesses. This enables them to accept and process payments through credit cards or debit cards either through face to face purchases, online transactions, or even by phone or fax. Merchant service providers supply terminal equipment for card swiping, as well as the necessary software and high speed IP solutions.

Most businesses need credit card services since consumers routinely pay for goods and services through credit cards and debit cards these days. If your business has not taken this step yet, you may have been missing out on more than half of your income potential.

These same merchant services also provide the solution for your small business loans. Collateral-free loans can be availed of through their cash advances, with the loan amount computation based on the monthly credit card revenue your business generates. Credit card sales requirements may be as low as $3,000.00 a month. You will not be asked for collateral since your future revenue is your collateral.  

The best types of merchant cash advances do not require fixed monthly payments nor do they impose deadlines on loan payment. A certain percentage is instead deducted automatically from your credit card revenue each month to go towards loan payment. This way, you never have to worry about loan amortization.

Once your cash advance has been fully paid, you may apply for another one. It is like having a revolving credit line. Make sure that you compare the terms of several merchant service providers, though, and read the fine print on contracts. There are so many merchant service providers competing for your business that you’ll surely find one that fits your needs.

The recession-like situation prevalent in the global economies has led many businesses to either shut shop or suffer massive losses. Many entrepreneurs have started visiting shrinks and several professionals are rendered jobless. In such a grim scenario, there is hardly any better alternative than seeking solace in some of the quotes by famous personalities.

Though they seem like a couple of sentences but they carry weight worth gold. If understood from the viewpoint of the current economic situation, these quotes can actually uplift your sagging entrepreneurial morale. For instance, consider this famous quote from Arthur C. Nielsen: “Employ every economy consistent with thoroughness, accuracy and reliability”, or another famous one from Walter Wriston: “Judgment comes from experience – and experience comes from bad judgment”.

These are some examples where you can easily get inspired from any kind of tough situation being faced in the business, instead of getting bogged down by adverse market situation. The idea behind such inspirational business quotes is simple – to help you tide over tough times and hasten the process of recovery by instilling a sense of confidence in your own abilities.

There is no point in simply reading these quotes without thinking about their relevance in the current scenario. Understandably, when you are down, it’s tough to even read any thing. But a simple act of reading the famous business quotes can actually be an antidote for all your business problems.

The only aspect that needs to be thoroughly considered before you set out to read these quotes is the source. The source should not only be authentic but also easy to navigate so that you don’t waste your time fishing for the ideal quotes. The best place to look for such a source is the Internet, which is full of useful business quotes’ websites.

Tougher times are expected for small and medium sized business. Business failures are expected to rise by a staggering 50% which means that failed businesses could peak around 32,400 in 2010; this would be the highest level recorded since 1992. The Federation of small businesses said that they had recorded a dramatic increase of 214% in the amount of calls to their legal advice line on redundancies from concerned small businesses in the fourth quarter of last year.

Their members are concerned about jobs and how to hold on to jobs; small businesses are usually the last businesses to make employees redundant. The calls are asking how to make employees redundant, how do I do it, what action should I take, this is extremely worrying when it is thought that 32,400 business may go bust. On average each small business employees approximately 5 members of staff; this means that 150,000 people could lose their jobs from small businesses this year.

The federation of small businesses is the voice of small and medium-sized businesses in the UK; they have over 215,000 members, who employ more than 1.3 million people with a combined turnover of £10billion. The federation of small businesses are proposing a five point plan. They believe that small business can help to get us out of this recession if the government were to give small businesses more contracts, the government improves employment paperwork, government improves access to traineeships or apprenticeships and improves the position of the banks giving money to small businesses. This will rely on the bank mangers releasing and relaxing the money supply to small businesses and not having a knee jerk reaction to this recession. As quoted by Stephen Alambritis.

This government under Gordon Brown and Alistair Darling need to realise that small businesses are the back bone of the economy and that they need to ensure that this recession is as short as possible. To do this they need to spend copious amounts of money to implement a massive job creation programme to keep unemployment down and taxation revenues up. Then hopefully we may ride out this recession!

It’s not just a case of the government supporting the Banks and the Car industry; we need more far reaching initiatives for employment across the economy. The recent incentive released by the government was to assist employers recruiting people who had been unemployed for six months or more. This initiative is flawed as the government will provide £2,500 to employers for training any new recruits as long as the new employee has been unemployed for more than six months. So now employers may be tempted to only recruit people who have been unemployed for six months or more for the additional money that is available.

Gordon Brown and Alistair Darling should look across the pond to Barack Obama’s newest policy to create 3 million new jobs in America. This initiative is expected to cost some $850 billion to implement along with other help offered to their car industry and the banking sector.

A bad economic climate is not something that you should be depressed with. Yes, your business might not be in the best possible circumstances or your job hunting might be producing less than ideal results. Instead of worrying about it though, you should try to feel challenged and motivated. In these times, if you are determined to get back on track to the road to prosperity you have to be creative and even aggressive in your business.

One of the simple ways you can do this is to re-imagine yourself and your business image. You can do this by trying to update your card designs and print business cards anew. Business card printing is still one of the best tools you have to engage clients and employers alike by making you look better and more competent. By updating your business card printing designs regularly, you can increase your competitive edge in your business field or in the job market.

There are several steps that you can take to update your designs for card printing and in turn update your business image. Most of them can add several dollars to your overall business card printing cost, but they are well worth the price to get the success that you need.

Throwing in that professional shine – The true mark of a professional is that “shine” in their personality. This also applies of course to their business cards. One good way to update your color business card and recreate your image is to invest in glossy coatings. Card printing has come a long way throughout the years and most business card printing services offer card printing with glossy finishes on its paper stock. This is the source of that professional shine. This contributes a reflective nature to your business cards making it look better and well more expensive. In terms of your business image, this means that people will think you care enough to promote yourself thoroughly, and you are thorough enough in your business ethic to remember even small details like professional business card printing. This little insight can be invaluable to your image which can give you that extra chance in making a business contract, or even getting that job that you wanted.

Rethink content – Besides adding that professional shine, you should try and rethink of your business card content. Your card’s content is your way in communicating your business image. This may come in the form of your business card tag line, the images that may be printed inside it and sometimes even the font style of your content. If you have been using your standard lines and designs for several years, you have to get rid of them and start with fresh new ideas. The first thing that you can work on is your tag line. Maybe you can use or search for a new and inspirational maxim to use? You may find something new to say, or you may be able to choose a different but still classing quotation.

The only point here is that you need to change it so that people will not find the same old boring thing. You can also try updating your content by rephrasing things like your job title, and you can also change the font style of all of your printed content so that they have a different appearance. By doing this major overhaul of your business card message you also recreate your image. Be sure to aim this recreation to the themes and qualities that you want to include in your business image.

So, by changing your business card looks and content, you also (by default) change your business image. Once you get those new business card designs, distribute them immediately so that your new image can take effect. This might be the new motivating factor that you need to engage your business contacts, or your future employers and convince them that doing business with you will be a successful investment. So update your image now through business card printing. It will be your key to business success, and in the larger picture will be your contribution in the fight against unemployment and recession.

For comments and inquiries about the article visit: Card Printing