What can small business do when the latest business surveys seem to give a mixed and reduced confidence message.
Regus, a world-wide business services company reports a rise in business confidence, however The MYOB Business Monitor found a “dramatic slump” in business confidence among small to medium businesses, and National Australia Bank’s (NAB) quarterly SME survey found business conditions softened notably in the March quarter and remained closely aligned with larger businesses. See http://ow.ly/4OizM and http://ow.ly/4OiBi
The VECCI Business Sentiment Index continued to weaken in March, with Victorian businesses experienced declining sales and profits in the first quarter of 2011, with generally negative trading conditions predicted to continue, according to the latest VECCI-Commonwealth Bank Survey of Business Trends and Prospects. http://ow.ly/4OivI
In many tough trading conditions, there are always those that rise above, and fresh new ideas and understanding trends are ways to be one of the few that succeed.
Ideas for action
Have a look at: Top 5 Small Business Trends of the Decade – Small Business Trends That We Can Profit From Today. “Looking back, these are what I think are the five most important small business trends of the last decade, the most important because they are trends that small businesses today can continue to profit from.” There are also action points to get you thinking, and most importantly, acting! http://sbinfocanada.about.com/od/management/a/businesstrendsdecade.htm
http://trendwatching.com/briefing/ tells us ” Amidst the avalanche of articles and insights on social commerce, we bring you THE F-FACTOR, which is all about how friends, fans & followers greatly influence consumers’ purchasing decisions in ever-more sophisticated ways.”
http://vanessareece.com/top-10-entrepreneur-business-trends-for-2010/ give 10 trends for Entrepreneurs, Vanessa tells us: ” One of the biggest challenges facing established entrepreneurs and new business start-ups is finding a target market that really has the money to spend on services and products.
What types of businesses are thriving in this economy?
The good news is that there are quite a few and there is still a lot of money to be made out there! Hopefully this top ten will allow you to either branch out your existing business or start one from scratch.
Even if your current business or idea has nothing directly to do with any of the popular business trends I list, I’m pretty sure you can find a ‘hook’ that will draw people to what you’re doing.”
“Insanity: doing the same thing over and over again and expecting different results.”
Albert Einstein, (attributed)
US (German-born) physicist (1879 – 1955)
So keep working on free new ideas – what are your thoughts and what are YOU working on?
Leave a comment… we’d love to hear