What You Need to Know About Small Business Plans

Small Business Plans Sought By Entrepreneurs

The entrepreneurial spirit is alive and well. Despite the lingering freeze on global credit conditions, it would appear that we are starting to see a thaw. Interests in small business plans has increased dramatically in the first six months of 2013 indicating that more people are deciding to follow their dreams instead of waiting in the queue for jobs that never come. Adversity always breeds creativity and innovation and while the current climate may seem rather bleak, the resurgence of interest in small business plans is a strong indicator that victims of the financial crisis are taking control of their own destiny.

Employment Landscape is Bleak

It is understandable really. Employment figures across the globe have never really recovered from the financial crisis despite the steady stream of rhetoric from central banks that economic conditions are slowly improving. I respectfully disagree given that the European Central Bank has just announced that unemployment across the region has risen to 12.2% (nearly 20 million unemployed).

In the US, total unemployment has dropped from 9.1% in April 2009 to 7.5% in April 2013 according to the National Bureau Statistic, but that figure bizarrely discounts nearly 2.3 million people who are unemployed but haven’t looked for work in the last 4 weeks! It is hardly a representative reflection of the true position or the average man on the street.

Similarly the UK unemployment figures in May 2013 edged up to 7.8% of the population and that is with interest rates at record lows and inflation at 5.2%, over 3% above the Bank of England target.

It is clear that these countries are running out of levers to pull to get people back into employment and steady the fiscal ship.

Small Business Set to Benefit

Economic austerity measures are a last gasp attempt to reduce fiscal deficits. The problem is these measures tend to stifle growth. When large corporations can’t grow they reduce their costs to preserve profitability. The easiest cost to cut is ironically the most important asset they have – their people.

 

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