 | Dan Hartman is the CEO of the Small Business Solutions Center, an agency in Wichita specializing in helping businesses start, grow, and diversify. Dan earned an MBA from the University of California and has over 35 years of business experience. Offering assistance across the spectrum for small businesses, from money, legal and branding/marketing to simply organizing your stuff, the Small Business Solutions Center is poised to make a difference in your business and our community. The Center is located at 105 South Broadway, Suite 102, Wichita, Kansas. Phone contact is 316-771-7111, or you can contact them through their website at www.smallbusinesssolutionscenter.com. |
Business
2007-01-01 10:14:00
Do elections effect small business?
ANSWER: Actually, not much. Dramatic change, such as this election will most likely foster, usually has little to no effect on small businesses. In fact, as we move into a new era in Washington, DC, the climate for small businesses including start-ups will most likely improve. Mega corporations, normally reacting negatively to large scope change, often using typical cost cutting maneuvers such as layoffs and downsizing in reaction to what is perceived as bad news.
As America discovers the repercussions of last months elections, the markets are currently casting their vote which is unlikely to be good news for big business. A recent Ned Davis Research study suggests the market could weaken between the elections and the end of the year, if the last 104 years are any guide. Markets hate uncertainty and if profits are at stake don't be surprised if the usual corporate cost-cutting methods are just around the corner.
So what does this mean for you? If you've been thinking about launching your own business, the post-election climate could very well work in your favor. Overall the American economy is slowing down but small businesses continue to play a vital role in the supply of goods and services to their local economy. When the mega companies downsize they tend to give up market share. Generally, that means more business for small operators and new opportunities for entrepreneurs. Many times excellent potential arise from these perceived downturns for enterprising individuals looking for a franchise. As companies downsize, they may turn to franchising as a means of cutting costs and generating revenue.
Becoming your own boss can be an easier task with franchising. You've probably already heard descriptions such as 'work for yourself but not by yourself' and that's just it - successful brands have a proven business model in place and you can share in their success, earning the income you truly deserve. Moreover, you'll profit from the strong support most franchisors offer.
Words of caution…seek help in selecting a franchise that will work for you. It's easy to overlook weaknesses in the desire to be your own boss. Having an objective eye looking over your shoulder can make the experience far more productive while helping you recognize and steer clear of potential problems.
As I've said many times before, get help. A well chosen team is always stronger and more effective than one person.
