World markets and stocks are sliding down dangerously to levels similar to what happens a decade ago in October 27, 2007. It would be a tougher climb back up as fears and doubts hover heavy on this financial crisis, clouding any present perception or perspective on possible recovery or growth.

How are these recent economic events affecting small-to-medium enterprises and start-ups?

Not favorably so, others would say as a fact while some cling on to a silver lining, that even a stumbling economy and a crippling credit crunch cannot stop anyone who is tough enough to get rough.

Entrepreneurs and experts say that there are things one can do despite these troubling times. Having the right attitude and traits can make one most productive. Use action to deal with fear and anxieties.
Here are some characteristics that can guide you through.


It takes time to fix things, get it right. We’ve suffered through a similar economic upheaval 11 years ago and most of us lived through it somehow. The same can be said again, this is going to get fixed by it will take time.


While waiting, why not keep working and keep doing business? Despite the economic slide turning to slump, there are still opportunities if you keep your mind and eyes open.

Corporate cost-cutting hurt Integrate Consulting L.L.C., a software design firm founded by Christopher Hazlett last year and now he has produced an event-planning software for small and medium-size organizations, marketing it as a product that can manage budgets and costs conveniently.

Real estate is slowing in most regions, leading to discounts in retail, office and warehouse space. Big companies are the ones hit bad by the economy that to get some gain, they’re jettisoning office furniture and equipment through auctions at a fraction of the price.


Yet despite these opportunities, it is wise to remain frugal and careful with one’s business expenditures. Do not rent office space or acquire new equipment unless necessary.

Employees can understand salary cuts and would appreciate these more than lay-offs. Toughen up and tighten the belt a few notches.


You choose: Change or close down. Diversify or die?

If your product or service is not selling well, then switch to one that would. When you cannot find new customers for your old product or service, you get new customers with a new product or service.

Tough times can lead to tougher business but once you accept the challenge, do yourself and your business right guided by the previously-stated characteristics, your business would most likely survive.

And surviving this would definitely mean success.

Outsourcing Solutions, Inc. – your outsourcing partner!



  1. Bowers, Brent. “Economy Stalling Your Small Business? Shift Gears.” 8 October 2008. The New York Times. Accessed 9 October 2008. Link here
  2. Klein, Karen. “Starting a Business in a Downturn.” 7 October 2008. Business Week. Accessed 8 October 2008. Link here
  3. Liu, Kristine Jane. “Markets tumble worldwide.” 9 October 2008. Business World. Accessed 9 October 2009. Link here
  4. Raum, Tom. “Meltdown advances despite efforts to limit damage.” 8 October 2008. Associated Press. Accessed 8 October 2008. Link here


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