is the economy slow now for small Business?
It seems to Me The entire economy (housing, manufacturing, etc) came to a grinding halt in August-September.
The first 6 months of the year were the best we have seen in 5 years, July-present, the worst in 10.
There always tends to be a slow down near election times ( I have tracked our sales back 10 years and there is slow down), my gut tells me that people are waiting to see what happens next week.
Even though next weeks outcome has nothing to do with anything, the elections produce fear and uncertainty, and as such, people quit spending & fixing.
My Small Home Improvemt Business Went from Busy to DOA and I have never seen it so Bad so Fast……
Quick Property Sale
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March 7th, 2010 at 3:11 pm
Housing dumped in many areas due to over-inflated prices. Now people are stuck with homes that are not worth as much as when they bought them. If you were in that situation would you spend money on your house?
Phoenix and Las Vegas are perfect examples of what I’m talking about. More recently Phx. I saw 10-30 offers per home. in that environment you have to pay over asking price significantly. When appraisers are appraising they are using overinflated comps and the process continues.
Your business is suffering because your city may have experienced something somewhat similar. When your home’s worth less than what you owe you wont spend money on the house.
As for small business in general many businesses in that industry are going through the same thing. So it depends on what segments you look at.