Tag: recession

Dip in Optimism for Small Businesses

Posted by WFG – August 25, 2011

The Business Opinion Omnibus has revealed that its latest findings suggest pessimism among small businesses in the UK. The optimism levels are the lowest since March 2009 and fell from +4% in July to -12% in August. These comes amidst fears of a potential second recession.

For more news on this story visit Fresh Business Thinking.

The Financial Crisis: Europe Vs. USA

Posted by WFG – August 11, 2011

As the economy continues to hang in the balance of a financial crisis, it feels as though Europe and the USA are battling against one another. But it’s not to see who is the best, but more like who’s the worst. As the two heavy weights of business economy battle it out, who can take the most hits?

The bad news has been appearing for quite some time, so to assess the situation closely, it’s better to take more recent updates. And it begins in Greece. With their taxes high and job losses out of control, they took a huge blow for Europe. The stock markets nose-dived and the rumors of defaults echoed through the financial market like kids in a school playground. But as their image was battered and bruised, bailouts came to the rescue. The European side of the argument climbed back from near death and though they might be wobbling, stayed on their feet. Read the rest of this article

Small Businesses Can Improve the Economy

Posted by WFG – August 8, 2011

Despite the recent turmoil, small businesses can improve the economy. This news might come as a shock to some, but canalso  lift the spirits of those that have lost their job. If you’re one of these people, now is the time to consider a change in career.

But let’s take this from the starting point. Read the rest of this article

Alternative Marketing Strategy

Posted by WFG – August 5, 2011

With news of an upcoming recession many small businesses need to tighten their outgoings, and one way to do this is alternative marketing. But with marketing being such a broad area where should you start and what are the best ideas? Here are some steps to point you in the right direction.

The Importance of Marketing

To begin with it’s important to know why we need marketing. Putting it simply, without it the general operations of the company would be obsolete. Marketing creates an interest in your company and will raise sales. If no one knows about your business, how will you make sales?

But marketing isn’t as easy as telling everyone about your new business. There are methods, and even the biggest companies can sometimes struggle to compete. With an every changing market new techniques are created and staying still too long will see you falling behind. But what if you don’t have the money to invest in a large campaign? Read the rest of this article

How do you Prepare Your Small Business in a Recession?

Posted by WFG – August 4, 2011

The current news suggests we could be heading towards another economic downtown. And despite many of us feeling like we hadn’t left the last one, there are still concerns for startup company owners. So how do you prepare your small business in a recession?

Even when there aren’t any economic problems almost a third of new companies fail in the first three years. This can be due to a lack of commitment, or the company product not fulfilling its potential. But either way, you can turn this around with a few simple steps in the right direction. Read the rest of this article

Recession Confusion

Posted by WFG – August 3, 2011

With the state of the economy, it seems that almost everyone is confused. Are we heading for another recession? Are we in one now? Did we ever truly escape the last one? No one really knows but we can try to come up with the best ideas.

It Never Ended

The first theory is that the recession never truly ended. The media made us believe that we were climbing out of the dark years, almost pushing into shops to part with our money and help the economy. But in truth the economy struggled to return to a healthy state and the figures never lie. You can read hundreds of articles telling us how things are improving, but when you want to know the real scenario it’s better to look at statistics. Unemployment barely rose, housing prices struggled to return to their previous levels and the market was temperamental.

Maybe it’s because society wanted to break away from the recession? The doom and gloom of companies folding and people losing jobs was all too much after a while. And when we heard trick words like green shoots and a V-shaped recovery we all clung onto the idea. Read the rest of this article

What’s Behind Recent Market Behaviours

Posted by Winflow – July 13, 2011

This quarter has been particularly volatile until markets made a recent sharp turn. In the last few days of the second quarter, according to the New York Times, the S&P index was only down 0.4 per cent.

Why has the market been so volatile?

There have been a number of dips in the market this quarter due to the following factors:

  • Deteriorating credit conditions in Europe.
  • Greece just narrowly avoiding default.
  • The Chinese economy has shown signs of cooling off.
  • Oil above $100 per barrel.
  • Unrest in the Middle East and North Africa.
    Read the rest of this article

Starting a Business During a Recession

Posted by Winflow – June 21, 2011

A lot of people think starting a small business during the recession is very difficult. It turns out, it can actually be easier to start a small business during a recession than when the market is good for the following reasons:

  • Other companies go out of business during a recession. This leaves gaps in the marketplace you could take advantage of.
  • More people are unemployed so it will be easier to find qualified help for your small business.
  • Costs can be lower because it’s a buyers market.
  • There is less pressure from the competition.

Tips for starting your small business during the recession

To improve your start-up’s chances of flourishing during the economic downturn, consider the following:

  • Look for market gaps your business could fit into. Pay attention to the impact the recession has had on different sectors and changing consumption patterns.
  • Utilize guerrilla marketing. The more you can do yourself the more money you will save for other expenses.
  • Look into different financing options. You might not be able to get a conventional bank loan during a recession so consider alternatives like grants or funding from venture capitalists.
  • Be careful with your spending. Come up with a personal budget during the time you won’t have a paycheck and be smart about what your spending your business funds on.

If you need assistance getting funding for your start-up business, call the Winflow Financial Group.

Rewarding Employees during Difficult Economic Times

Posted by Winflow – June 17, 2011

Many small businesses have been struggling to properly compensate employees during this time of recession. It’s not that business owners don’t want to compensate their employees, they just have to make sure the business can afford paying out raises. For many employers, the past couple of years have meant hard times for small businesses. Quite a few have had to re-consider their annual year-end bonuses. If you find yourself in this position but still want to compensate your employees, consider the following:

  • Give a half-day or day off when an employee has done a good job. Though it may not be as satisfying as a raise, many employees will appreciate the opportunity to take a day off work and spend time with their family.
  • Be honest about why you won’t be able to give your employees a raise. Staff who know what is going on in the business will be more motivated to work harder to keep it going.
  • Publicly recognize your employees. When an employee does a good job just saying so can be as much of a motivating force as cash is.
  • Give small gifts like movie tickets or gift certificates. This will show that you do appreciate your employees and are doing everything you can to reward them even if it is meager.

If you need assistance finding funding for your small business contact the Winflow Financial Group at 1.800.956.6897.

Canada’s Unemployment Rate at a Two-Year Low

Posted by Winflow – June 10, 2011

Perhaps due to the creation of 22 300 jobs last month, Canada’s jobless rate has fallen to 7.4 percent. This is the lowest it has been since just after the recession started. Other details include:

  • According to StatsCan, the unemployment rate for workers between 15 and 24 was down 1.2 percent.
  • 32 900 full-time jobs were created.
  • 37 100 private sector jobs were created.
  • 44 300 jobs were lost in the public sector. These numbers are likely due to the May 2nd election.
  • 22, 500 jobs were lost in the manufacturing sector.  
  • Many Canadians have turned to self-employment, which accounts for a large percent of the job spike.
  • Canada has created  273 000 new jobs in the past year.
  • The US employment rate sits at around 9.1 percent.

For more information on Canada’s jobless rate, read this CBC article.

For other articles about the state of the economy, see below:

If you are interested in starting your own small business, contact the Winflow Financial Group. Our trained consultants will provide with advice about securing funds, dealing with investors and protecting your company’s assets . You can contact us at 1.800.956.6897 or through email at info@winflowfinancial.com.