Chicken Little and the media
It's been a bumpy ride with the economy hasn't it. News reports in years past touted how well things were doing but were missing the economic bubble that was about to burst. Then it happened and we all read the stories of unemployment, slowdown in construction, reduction in vehicle sales and job losses. Those reports scared us and people became afraid to spend (I.E. Chicken Little's the sky is falling).
I was reading on CNN's website on a story about the number of SBA loans that were made over the most recent 3 months versus the same period a year ago. That tells me that people are taking a chance again on their business dream.
I watched another news story yesterday on how car sales were up (except for one major manufacturer). Another sign people believe how things are improving.
The point is you need to take in what you read but allow for a little faith that your business or proposed business will be able to make it regardless of what the news sources are reporting.
If you think about it, isn't it better to start a business when your potential competitors are afraid to start theirs? Less competition means more potential share of the market pie for yourself.
I am a CPA in San Antonio and serve the needs of businesses and individuals in the San Antonio and surrounding areas.
Richard J. Garcia | 04/02/2010