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Tips for small businesses to survive recession
When two employees at the Small Frys children's store recently asked to work four days each week instead of five, owner Carol Yenne considered hiring someone to fill those shifts. But with talk of a possible recession in the news every day, she ultimately decided to bridge the gap herself.
"Normally we'd replace those days, but because of the climate, we decided to wait and see," said Yenne, who has owned the Noe Valley store for 17 years. "It just means that the owner - me - and my daughter work a little more."
Yenne is one of a growing number of Bay Area small-business owners who have started planning for a recession.
Some small businesses - especially those connected to the real estate market - are already feeling the pain of dwindling revenue.
Others such as Yenne are doing fine but taking steps to protect themselves in case business starts to sour.
-- Pay attention to cash flow.
-- Get tough with accounts receivable.
-- Trim the fat.
-- Ask employees for help.
-- Retool your products.
-- Pay attention to existing customers.
-- Look for opportunities.
-- Don't stop marketing.
-- Offer deals - if you can make them pencil out.
-- Plan ahead - easier said than done.
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Internet a boon for some small business operators looking for work
Freelancer, sole operator, independent contractor and free agent are all terms for a similar type of small business operator with a key trait in common — each of them is constantly looking for new gigs to fill their time and pay the bills. For these business owners, the Internet has become a boon to finding work. Web sites that play matchmaker between employers and freelancers have taken the art of project hunting to new levels.
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Rural Development: State targets Deschutes communities for economic development
Sisters, La Pine and Deschutes River Woods were labeled as "distressed communities" by the state's Economic & Community Development Department last week, but the designation could help them qualify for additional state grants and loans.
The designation was based on U.S. Census data from 2000, according to Michael Anderson, economic analyst with the Oregon Economic & Community Development Department, based in Portland.
"Being a distressed area enables communities to have an extra advantage when applying for business finance programs," he said. "It's not so much a condemnation on any type of policy. It's a way of pointing out areas that might need more attention than other areas."
The evaluation is a guide that the state agency can use to target aid for economic development, he said.
The agency uses both state and federal data that are available annually to look at counties statewide in four areas: percentage of the population with a bachelor's degree age 25 or higher, unemployment rate, percentage of the population below poverty and per-capita income.
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Oregon Wine Industry Comes Together to Support Active Wine Tourism
Wineries, wine-related businesses, and tourism associations in Oregon have rallied behind a new
effort to promote active wine tourism in the Oregon wine country. So far, 14 organizations have signed up to sponsor the Oregon Wine Adventure, a new multisport wine tour in the area.
"This is a brand new concept in Oregon and, as far as we can tell, in the wine industry worldwide," explains Jeannine Heidenreich of the Convention & Visitors Association of Lane County, one of the original supporters of the concept. "Our goal is to get more people to visit Oregon and Lane County and the Wine Adventure is a perfect pairing between Oregon's recreation wonderland and rich wine culture."
The first-ever Oregon Multi-Sport Wine Adventure will consist of five days of activities, education, and wine tasting from August 10-14, 2008. A maximum of 20 participants will hike, bike, and paddle canoes on, through, and near Oregon's vineyards. The tour costs $1900 per person and includes meals, lodging, local transportation, activities, wine tastings, and professional guides.
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Top state economic development group prepares to reorganize
Members of the Oregon Economic and Community Development Department have recommended the agency separate its business development and community development functions, focus more on developing public works projects and increase its emphasis on environmentally sustainable projects.
The recommendations, which Gov. Ted Kulongoski sought as part of a potential departmental overhaul, could be adopted next month. Kulongoski had asked the commission's board to consider reorganizing as the state faces climate change, population increases, an outdated infrastructure, unpredictable revenue forecasts and competition from other states.
As part of the changes, the commission could dedicate a new department specifically to business development. It would then steer its community development team to public works issues, including managing infrastructure systems related to water supply, to name one area.
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Small business: When family is business
Running a family business can be challenging, but that doesn't make it unpopular:
At least 80 percent of all businesses in the United States are family owned, according to family business experts.
Still, only about 12 percent of family businesses survive into the third generation, and just 3 percent make it to the fourth generation and beyond, according to The Family Firm Institute in Boston, Mass.
So if you're involved in one of these businesses or contemplating launching one, it's important to know how to resolve conflict and work together as a family to increase your company's chance of survival.
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