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Michael Bowers's Blog – February 2009 Archive (5)

Defaults by Franchisees Soar as the Recession Deepens

A recent Wall Street Journal Article showed that the number of loan defaults by franchisees is increasing dramatically. Economic conditions are hitting franchisees the same as traditional businesses. Many entrepreneurs look to the support of the franchise to build their business. It is critical that even when starting a franchise that you do your own homework and develop a comprehensive operation plan tailored to your particular market.

To read the Wall Street Journal article… Continue

Added by Michael Bowers on February 26, 2009 at 12:21pm — No Comments

Ohio Products in Demand ~ Exports Grow for the 11th Consecutive Year

In 2008, Ohio exports grew to more than $45 billion, a 7 percent increase from the previous year. Ohio is the seventh-largest exporting state in the nation and is the only state to increase exports every year since 1998.

Well over 200 countries receive exports from Ohio. The state's largest export markets include Canada, Mexico, Japan, China, Brazil and European Union countries. The state's top product exports include machinery, vehicles, plastics and optics.

Ohio's… Continue

Added by Michael Bowers on February 26, 2009 at 10:58am — No Comments

Role of the SBA in the American Recovery and Reinvestment Act

On February 17, 2009 President Obama signed into law the $787 billion

American Recovery and Investment Act also known as the economic stimulus package. While it will take awhile to fully understand the impact this legislation will have on small businesses here is what we know is in the bill relating to the

Small Business Administration (SBA): The bill provides $730 million to the… Continue

Added by Michael Bowers on February 18, 2009 at 5:04pm — No Comments

Seven Things You Should Do In Your Small Business To "Thrive" In 2009

A while back I was tagged to post seven things people might not know about me. While I'm clearly a fascinating person, just ask my three year old son, I thought that it might be more interesting if I posted seven things small business should be doing, but don't know, to thrive in 2009.

Don't Overreact...Be Strategic: If you truly know your business and your market you can survive and thrive even in the down economy. I know that it is a pain but a strong SWOT analysis can give… Continue

Added by Michael Bowers on February 18, 2009 at 9:34am — No Comments

Ten Trends That Will Impact Your Business In 2009

As an entrepreneur you should always be on the lookout for what is on the horizon that might impact your business either positivity or negativity. The challenge is that given the current economic climate you might be so heads down trying to survive you don't have time to see the forest for the trees. I'm here to help! Here are ten trends you need to be aware of for the rest of this year.

Economic Downturn Continues to Impact Business: I know your first reaction is "tell me… Continue

Added by Michael Bowers on February 13, 2009 at 2:27pm — No Comments

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