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I came across this video on a unique example of how small business are trying to stay afloat during the decrease in retail sales that hit during the recession. Two unlike stores moved in together to increase sales and get customers to buy from both of their stores. The results were positive and helped the two from going bankrupt when so many other small business have had to close. Just seemed like a very creative and inspiring idea---that maybe there are some good things that can result from a poor situation.
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This is a smart idea for these two small store owners. I wonder if more businesses will start doing this more. Its also interesting and i think good that another $30 billion is going to be lent out to small community banks to start lending to smaller businesses.
ReplyDeleteI think smaller businesses really need the money and it is important for American entrepreneurs to stay afloat. We always say 'think globally and act locally'. Well in our current economic state I think that's important and small businesses are such a big part of our culture...
ReplyDeleteI am not surprised some businesses are getting creative like this just to survive. As the video pointed out they were some of the hardest hit from the recession. We will probably see more innovative business practices as businesses try to save money and make profits like they were doing before the crisis.
ReplyDeleteThis idea did not sound all that innovative to me. Businesses can usually increase revenues when they change layouts, products they carry, etc. Especially in a small town where the buyer population is limited, small changes like these can make big differences for the bottom line.
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