The Beat Goes On

My suggestion several days ago that small businesses are faring better than larger ones in this recession continues to be reinforced. Yesterday, Small Business Trends wrote:

"...the nation’s microbusinesses are better structured to endure these difficult times, thanks to a lean operating style and creative business models. Because of that, they will end the year having taken less damage than their larger cousins and will be in the best position from which to lead the way out of recessionary darkness into the light of a new business growth-cycle day."

Yes, it's going to be tough in 2009, but as a new business owner, you're probably still in that microbusiness category and can take consolation in the fact that your business being young and lean gives you a bit of an advantage.

Smallbiztrends goes on to say that historically, more people start very small businesses during economic downturns. So I advise you to keep an eye out for potential new competition.