{"id":1051,"date":"2008-11-05T19:36:00","date_gmt":"2008-11-05T19:36:00","guid":{"rendered":"http:\/\/smallbizsurvival.com\/?p=1051"},"modified":"2014-08-27T07:47:41","modified_gmt":"2014-08-27T12:47:41","slug":"small-business-is-driving-now","status":"publish","type":"post","link":"https:\/\/smallbizsurvival.com\/2008\/11\/small-business-is-driving-now.html","title":{"rendered":"Small Business is Driving, Now"},"content":{"rendered":"

\"\"<\/a>You, us, we small business people are the drivers now. It\u2019s important to remember that as we tool around our community.<\/p>\n

It\u2019s not to swagger with false confidence as BMOC’s did in the past. No. The point is to understand…we’re driving this economy moving forward.<\/p>\n

Here\u2019s why: On average, small business generates 60% of new jobs created in this country. Year-in, year-out. Boom or bust economy. Inflationary, deflationary, growth or recession, bear or bull market. 60% of all new jobs are created by small businesses.<\/p>\n

But wait, we\u2019re not in an average economy today. ( Some of you are thinking \u201cYou\u2019re right, Sherlock. Thanks for reminding us.\u201d) There\u2019s no denial now that we\u2019re in a recession. Maybe we\u2019ve been in one since…Q1. And maybe it will continue for another quarter or two.<\/p>\n

It doesn\u2019t really matter.
Recessions are great for small business.<\/span> According to Bob Graboyes, Senior Health Advisor at National Federation of Independent Business<\/a>, and economics professor at George Mason University and Virginia Commonwealth University, 100% of new jobs are created by small business in a recession. We discussed this in our conversation on health care and small business. You can listen here<\/a>.<\/p>\n

That\u2019s right. 100% of new jobs are created by small business in a recession. And where are we right now? A recession.<\/p>\n

(The logic\u2019s fairly obvious to support this data. Recessions are an economy\u2019s way of cleaning itself of excesses in behaviors or industries. And large corporations have built themselves to exploit these excesses. They suffer the most in a recession. Or their employees, do, as their companies first dump the products, then their business models and then the infrastructure and employees who built it.)<\/p>\n

Back to the point: YOU…we, are the drivers now. You, we, have moved from the backseat to the driver\u2019s seat.<\/p>\n

Hyperbole and generalized statistics aside, here\u2019s the standard competitive advantages of small business during a recession:<\/p>\n