small business trends 2009

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Consider us your business Consider us your business partner…partner…

Only Better!Only Better!

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Ohio SBDC at Columbus StateOhio SBDC at Columbus State

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Regional Service DeliveryRegional Service Delivery

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How Lucky Is Columbus…How Lucky Is Columbus…

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The Results Are InThe Results Are In......

Consulting Clients Served: 961Consulting Sessions: 2,883

Training Events: 90Training Attendees: 1,718

Jobs Created: 167

Loans/investment capital: $12,844,875Owners Equity: $2,210,700Total Capital Infusion: $14,528,200

Sales increases: $1,032,900

Fiscal 2008 Results – Ohio SBDC at Columbus State Community College

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Professional Business ConsultingProfessional Business Consulting

The Ohio SBDC at Columbus State provides

Technical and professional business management

consulting to existing and start-up businesses.

All SBDC consulting services are provided at “no

cost” to the business.

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The Ohio SBDC atColumbus State offersover 75 topic specificseminars and workshopscovering pertinent

topics

For businesses at allstages from start-upto growth and mature.

Education and ConnectionsEducation and Connections

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SBDC Free Expert AdviceSBDC Free Expert Advicehttp://sbdcfreeadvice.ning.com

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The International Trade Assistance Center (ITAC) Provides consulting and advising in international trade,international business and logistics.

Specific services include: Developing export strategies Preparing your product or service for export International legal considerations Shipping your product; pricing, quotation and terms Methods of payment and Financing Export transactions Business travel abroad Selling overseas.

International Trade Assistance CenterInternational Trade Assistance Center

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The Manufacturing & Technology SBDC (MTSBDC)provides specialized assistance and high end businessconsulting to manufacturers, technology-based companiesas well as individual inventors. The Center’s initiatives are: Continuous Improvement & Modernization ~ Floor layout,

process improvements, workforce assessments and training, lean operations…

Inventions & Prototyping ~ Product design, modeling, prototyping, market assessment, Intellectual property, R&D grants…

Partnering & Commercialization ~ Licensing technologies, capital access, mfg partners, marketing channels, fulfillment strategies…

Manufacturing & Technology Manufacturing & Technology Small Business DevelopmentSmall Business Development CenterCenter

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Employ about half of all private sector employees and pay nearly 45 percent of total U.S. private payroll.

Have generated 60 to 80 percent of net new jobs annually over the last decade.

Create more than half of nonfarm private gross domestic product.

Hire 40 percent of high tech workers (such as scientists, engineers, and computer workers).

Produce 13 times more patents per employee than large patenting firms.

Small Business…Small Business…

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Economic Downturn Continues to Impact Small Business

• Small businesses are not hiring as many people• Capital spending is down on items not vital for survival• Consumer spending is down• Economic downturn is impacting businesses downstream

• Businesses need to stay in contact with everyone from customers to suppliers to make sure they are solvent

• Competition for scarcer dollars will intensify• This is a global crisis…international government action will have an impact

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Number of Small Businesses Increases

• Due to corporate downsizing people look to control their through business ownership

• Estimated that 7% of downsized workforcewill look to start a business

• Number of Solo-preneurs increase

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Gen Y looks to Small Business Ownership as an Option…

• Gen Y looks to maintain more control over their destiny• Gen Y sees diminishing opportunity in corporate America• Entrepreneurship is receiving increased focus in many university business programs

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Green Technology Becomes a Business Strategy

• No longer a trend “Green” is important as a differentiating factor• A cost control strategy relating to power use, etc• Drive for less waste drives movement toward paperless business activities• Gen Y consumers and entrepreneurs will require “Green”

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Small Business Turns to Mobile Solutions

• Consumers and businesses will continue to expand use of mobile tools• Gen Y consumers and entrepreneurs drive move to mobile• Mobile solutions will allow more work to be done away from the office (including GPS)• Current systems will need to be modified to accommodate mobile solutions.

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Social Media Becomes the new “Word of Mouth”

• Small business will increase the use of no or low cost social media solutions• Gen Y drives call for social media strategies• Social Media will become a significant customer outreach/feedback tool• Social media will begin to justify ROI requirement by creating new sales leads/opportunities

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Government Intervention Impacts Small Business

• Stimulus = spending, oversight, regulation• Artificially supports ailing firms for a while• Uncertainty created by administration change

• International government actions will impact US business as well as US government action

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Banks…What does liquidity mean?

• Banks are tightening credit requirements• Economic condition is weakening companies • Small Business must be nibble and adjust…don’t expect your bank to be there if you run into problems

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Cash Is King!

• Small business will monitor cash more now than ever• Consumer spending decreases due to uncertainty• Financing is not as available as before…maintain cash• Emphasis on budgets and performance

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Small Business 2009, What to Expect…Small Business 2009, What to Expect…

Innovation Rises…

• Economic stress leads to business innovation• Businesses look to add value to current processes many of which will become new, innovative products• Businesses look for opportunities in the down market

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Everything is always impossible beforeit works.

That is what entrepreneurs are all about,doing what people have told them isimpossible.

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The Ohio SBDC at Columbus State

p. 614-287-5294

http://sbdcfreeadvice.ning.com

For Information on SBDC ActivitiesFor Information on SBDC Activities