Owners Toughened By Recession
Entrepreneurs think the recession is making them better business owners, and, according to a recent report, they’re beginning to feel cautiously optimistic.
The American Express Open small business monitor surveyed 727 owners of firms with fewer than 100 employees and found 77 percent think managing through the last few months has made them better at managing their businesses.
According to Alice Bredin, a small business advisor to American Express Open, gloomy economic circumstances have forced entrepreneurs to perform at their highest possible level, giving them more confidence as they face new challenges.
Entrepreneurs think the recession is making them better business owners, and, according to a recent report, they’re beginning to feel cautiously optimistic.
The American Express Open small business monitor surveyed 727 owners of firms with fewer than 100 employees and found 77 percent think managing through the last few months has made them better at managing their businesses.
According to Alice Bredin, a small business advisor to American Express Open, gloomy economic circumstances have forced entrepreneurs to perform at their highest possible level, giving them more confidence as they face new challenges.
Photo by biewoef.
Angela Shupe on May 18th, 2009 11:40 am
While the recession has toughened them up, hopefully they’re able to hold onto what they’ve learned once it is over.
It is kind of like when the gas prices went through the roof. People started walking or riding more bicycles. Once it went down so did the amount of people trying to conserve gas.
Donald on May 19th, 2009 4:23 am
Good comment, Angela. Hopefully the lessons learned by businesspeople in the last month will form the footprint of entire generation’s business acumen, as opposed to just flash in the pan pragmatism.
Jaclyn on May 19th, 2009 8:24 am
I totally understand where angela is coming from on the gas comment, however, of course people will start driving again once gas come’s down cause no one wants to continue to pay a $700 dollar car or truck payment not counting the insurance payment if they are out riding a bicycle instead. but…hopefully it will teach them certain lessons like she said such as the most expensive merchandise or marketing or even advertising is not always the best and is not the only way to go. they can always save money even during great times. I also think that the reason they are thinking this recession has made them tougher and better is just like when your mom use to tell you “you learn from your mistakes, everything hard in life once over come teaches you something new and makes you stronger for the next challenge”! it’s pretty much the same concept in business, every hard time they have over come has made them stronger and wiser for the next challenge.
BillRuesch on May 26th, 2009 6:52 am
Adversity weeds out the weak and strengthens the strong. There is nothing wrong with that. I myself started a long run of successful self-employment after getting seriously burned in a camping injury. I had to wear a face mask for three years. I’m still encouraged to wear a hat and sunblocks daily. It made me different, and determined. Do I regret the burn injury? No. If I knew that it was going to happen would I have avoided it? Yes. The recession may be good in the long run for small business, but given the choice would we go through this on purpose? No way. Like remembering the Alamo, we need to remember who did this to us. It was the unholy trio of Banking, Insurance, and Government, and that spells B.I.G. Down with B.I.G. should be our war cry.
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