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The Forum > General Discussion > What is The future for small business

What is The future for small business

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Having been in SB for 20+ years, I have seen many changes, with very few being for the better of the business owner.

Sure, there are some businesses that will continue to flourish, like those servicing the mining industry, however, on the whole, many will simply become non-viable in the not to distant future.

Those in the supply and service industries are constantly faced with ‘buyer rejection’ as many people tend to either not buy, or go without now.

20 years ago a good SB gave you the ability to service a large amount of debt. This debt, if invested wisely, provided a secure foundation for retirement, as most assets purchased 20 years ago are now worth a small fortune in comparison of their historical value.

Now days, the majority of SB are fighting to survive, often due to either slow payers,or decreased net margins, both of which in turn limits their cash flow, which limits their ability to service debt and as such limits their abillity to acumalate assets.

Like always, small business owners are taking risks being in business and, as I have said many times, increase the risk and you limit the players.

It is my firm belief that the end is near for the majority of small businesses as the rewards of yesteryear are simply no longer there.

The problem is, as SB is the largest employer we have, where will the jobs come from in the next 10 to 20 yearsand, more importantly, where will the wealth creation come from.

Just remember, many self funded retirees today were small businesses owners and as such are not a burdon on society. I fail to see how this will apply to future generations.
Posted by rehctub, Friday, 3 June 2011 5:33:14 PM
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rehctub.There is no future for any of us unless we as a nation create our new own money debt free,to equal the increases in our GDP.Keating should never have sold off the Commonwealth Bank.

see http://secretofoz.com/ When you have seen this excellent doco by Bill Still,you will then know the truth.
Posted by Arjay, Friday, 3 June 2011 8:11:47 PM
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Rehctub, small business will continue, but what small business is
feeling, is a rapidly changing world. The speed of change is related
to the speed of communication and the speed of communication has
dramatically increased. So you will see lots close down, others
open up.

So at the moment, if you own a music store or a book store, you
are pretty much doomed. Yet if you are flogging x on ebay or
elsewhere on the net, you could well be thriving.

So a business plan that worked great 20 years ago, might well
fail today. Yet a business plan for a whole new world, might boom.

Just think about it. Google, Facebook, Amazon, Twitter, all did
not exist 20 years ago. Groupon is a bit over 2 years old, yet
turned over something like 700 million this year, owned by a young
kid with a creative mind.

So we are facing a time of huge change, alot of old businesses going
broke and closing down, but also a time of huge opportunities for
new ones.
Posted by Yabby, Friday, 3 June 2011 8:46:25 PM
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Yesterday,today, tomorrow it has and will always be the same.
Small business will prosper, turn to very big ones, and others will fail.
Innovation driven youthful ones will do best.
Those waiting for the past to return fail.
Those who make it, get the riches they earned with hard work guts and risk will be happy.
Those who do not will always want government intervention to prop them up, unavailable to me in my risk taking few bets today.
Business we never dreamed of will come in t to being and prosper.
It is always like that it always will be.
Posted by Belly, Saturday, 4 June 2011 7:37:17 AM
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small business WILL allways survive
trouble being it survives in different ways

inmstead of 24/7 shopps and that 'overhead rental'
it moves to market places..or shop sharing..
or out of the back of the ute

i have seen in the future many working cooperativly
three shops become one...that employ less..but more affectivly
and more fairly...where a share of proffits is earned..in lue of wage

anyhow a skill earns its keep
currently some train to be butchers
then stop butchering...wanting to become money accounters/bankers /clerks..or small busy/ness volenteers
who carry the whole of the debt/credit/blame/risk...

but what about butchers
simply use your skills/assets more wisely/smarter
val;ue add*
Posted by one under god, Saturday, 4 June 2011 8:16:19 AM
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Every one said it just about right Rechtub.
In my interesting life I was once running one, employed 5 and built it from nothing to too big for me to handle.
My promise and I stood by it,was best quality you can get and best price.
In the end too many orders not enough product stopped it.
My butcher is just out of the main town.
His wife records customers wants and wishes.
We pay more but get much more.
I ring and order he asks , say when it includes corned mutton flaps, that I wait an extra day.
We are mates I owe him loyalty he owes me quality.
I could start my old business up right now, as a one man one and it would sky rocket.
Not sure my health is going to last, so will not yet.
But it makes its money by offering those in trouble a chance.
Giving stock on 90 days before payment and the next order if paid on time is 30 days.
Almost everyone pays and on time customer loyalty is two way.
Mark up price is above cash so often second orders are paid in cash.
Posted by Belly, Saturday, 4 June 2011 2:20:31 PM
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