No bailouts here; learn to survive a recession - VillageSoup Belfast
Businesses of all sizes and venues are feeling the effect of the slowdown. The economic downturn is directly impacting decision-making for small and home-based businesses in Maine.
“Unlike the larger corporations, small business owners will not be ‘bailed out,’ said Cathy Roberts, owner of Liberty-based Pieceworks, Inc.
"[We] need to work together to develop new strategies. We are familiar with taking risks, as well as being self-reliant and creative in developing our own innovative business solutions.”
Businesses are looking for ways to cut costs and/or improve efficiencies that range from saving energy to reducing hours, employees or inventory.
Before making a major decision, business owners need to ask if they have done as much research about all the options as possible? Have they connected with other business owners who might be able to support and guide them as they sort through challenges?