Small Business Planning During an Uncertain Economy

There's no doubt that we face uncertain times with our economy. Unemployment levels are still high. The stock market has had a rollercoaster year. While Congress finally overcame its political bickering to pass a two-month extension of the payroll tax, it can't be motivated to act on other initiatives that could aid our economy -- especially big ticket items that could help the self-employed. But one thing is certain: small and micro-businesses, the driving force of our economy, must protect themselves every day by planning in advance.

It's a common assumption that large corporations make up the majority of the American economic landscape, but this is simply not true. Our nation's self-employed and microbusinesses are just different than the "small business community" that contains 500 or less employees. The self-employed must plan differently to ensure their long-term success and ability to continue to be major economic contributors. Fortunately, there are resources available outlining simple planning steps businesses can take to ensure longevity.

With such economic uncertainty, taking the right steps in planning for a small business's future is key. The self-employed and small-business owners of America encourage Congress to extend the payroll tax cuts for an entire year so there's one less thing we have to accommodate for in our plans for success.

 

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Comments

[joyceperry]

04:20 AM on 01/04/2012

I too was very skeptical before entering into an online program from a High Speed Universities but have been very surprised at how much I have learned. They offers a wide variety of learning resources and very comprehensive study guides in all of their courses.

[joyceperry]

04:17 AM on 01/04/2012

Indeed, workers lacking high school diplomas saw their unemployment rate jump 6.6 percentage points in June vs. a 2.3 point increase for college grads who has their degree from one of the High Speed Universities

[freerangevoter]

03:00 AM on 01/04/2012

Our business has grown 14% to 23% each year for the past 30 years, but we are holding back on expansion until the Supreme Court makes a decision on Obamacare this summer. If the individual mandate is declared unconstitutional then we will probably buy out a competitor that is struggling and hire some of their staff. If Obamacare stands we will probably downsize to buy gold and apartment units in expectation of a worsening economy.

For anyone thinking about starting a business I strongly suggest reading "The E-Myth" by Michael Gerber and for any young person that wants to build a nest egg that will allow you to retire without counting on Social Security or an employer's pension you really aught to read THE RICHEST MAN IN BABYLON by George S. Classon.

For anyone thinking about starting a business I strongly suggest reading "The E-Myth" by Michael Gerber and for any young person that wants to build a nest egg that will allow you to retire without counting on Social Security or an employer's pension you really aught to read THE RICHEST MAN IN BABYLON bu George S. Classon.