HeraldNet recently asked some entrepreneurs for their take on small business in the future. Has a weak economy permanently harmed small business? Tell us your thoughts in the comments.
Phil Bannan, co-owner of Scuttlebutt Brewery Co.
I don’t think the long recession will have much of a negative impact on the next generation of entrepreneurs because nothing seems to constrain the true entrepreneur. It’s in their DNA. Yet, there are a lot of steps between the germination of an idea and a fully functioning enterprise. Somewhere in there, financing and capital accumulation become a key determinant of successfully bringing an enterprise to life. I think the question is: Will there be financing? Venture capital is difficult, IPOs aren’t working and the tax policy is confiscatory. That’s where I see the future entrepreneur’s problem.
John Bell, owner of Willis Hall Winery
One of the predominant characteristics of entrepreneurs is optimism. Without it, they would not dare leap headlong into the unknown. Yes, optimism needs to be tempered by a good business plan, but without optimism, nothing happens.
Thus, I feel that new entrepreneurs will be less affected by the weak economy than one might think. They might be more circumspect in starting a business, but I feel that they will, nonetheless.
Photo by Ken Hawkins