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MANAGEMENT
Reigniting Your Business Engine
LIKE MANY a small business, you clivity to repeat itself, entrepreneurs can rely more on local market-
may have been treading water in discovering new ways to serve and ing for exposure and growth.
2009 to stay afl oat, but this year, introduce better products to the mar- Hyperlocal and community ori-
business owners may well be early ket will become the work horses that ented website advertising looks
investors in the economic recov- truly pull the U.S. out of recession. like a bargain, compared to mass
ery, and lead the effort to reignite Here are the top ten predictions why media buys, while word of mouth,
America’s small business growth. this will be the case, according to networking and business group
The entrepreneur will be an Ameri- Guidantfi nancial.com: presentations continue to grow in
can hero in 2010. Why? Franchises 10) The slow, jobless recovery popularity. We are back to mom
and other small businesses have will continue to be jobless. Busi- and pop business basics.
generated 64 percent of net new nesses have been forced to automate 8) Small businesses will be-
jobs in the last 15 years, and cur- and downsize, likely discovering gin cautiously spending. With
rently account for about half of all they had hired many positions that signs of a recovery, lenders will be
jobs, according to the U.S. Small weren’t critical to the success of the slightly more willing to provide ac-
Business Administration. business. Attrition will also put com- cess to capital, and borrowers will
Odd as it may seem, disruptive panies on more profi table ground in be slightly more willing to accept it.
economic times are often fertile 2010, without a signifi cant uptick in Economic woes over the past few
ground for the new businesses of new job creation. years have taught entrepreneurs to
the future. If history has any pro- 9) Small service businesses
continued on page 93
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