Monday, October 8, 2012

Small is Big

Forbes Magazine reported recently that there are some 27 million businesses in the U.S. About three quarters of those are self-employed individuals. The other six million businesses are nearly all privately held businesses.

All together these privately held businesses account for nearly two thirds of non-government employment and nearly 60% of all sales in the U.S. That's a big impact on the U.S. Economy!

Here at SouthStar, being both privately held and a small business,  we of course have a special place in our hearts for other small businesses. That is not to neglect you big businesses and government agencies. We love your orders too!

But when the fit hit the shan (that's sort of a garment industry joke) four years ago, to a great degree it was the entrepreneurs who carried us through. Big orders seemed to vanish all the sudden at the end of 2008. The big manufacturers were either running down inventory or shutting their doors for good, yet our small business customers kept buying this and that as they always do--as needed.

And then too we saw more and more individuals, perhaps suddenly unemployed or unable to get a job with the big outfits, starting a part time or full time business of their own. Some jumped into their own business for the first time, and some were getting back into it--doing some upholstery work, for example, that they had given up years before for a steady paycheck somewhere else.

Who knows what comes next? The forecasts are gloomy but life is full of surprises. We small businesses learn over time to be prepared for anything. Hopefully not a 40% drop in sales again, but Heaven only knows what 2013 will bring.

One thing for sure, however, is that you small businesses will keep on truckin' somehow in good times or bad. And that's big to us.

Thank you for your patronage!

SouthStar Bulletin #239 is now in the mail. If you're not a current customer or already on our mailing list, shoot us an email and we'll get you going.

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