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something big already has happened
Most employees don't seem to realize that nearly all businesses from small "mom & pops" to the large corporate giants have been experiencing financial problems for well over a year, more like two. My husband & I have a small business with 14 employees, and while we are still going o.k., it has been a struggle for a while. It's not just sales that may be the problem, it is often the interest rates on various loans and investments that are the backdrop of a business. Many businesses may have over-extended during the huge real estate boom in investments and now can't unload when they need to, without taking a bath. Most businesses can deal with short-term dips and challenges for a year, even two, without taking drastic measures - at least we have been able to, but as the outlook remains a bit bleak, I think most of us are waking up to the fact that only the lean and well -managed are going to survive. I continue to be surprised by my employees and their comments at how little they are aware of the economic situation that most businesses have been in for a while. We certainly don't advertise our challenges - it doesn't help business or morale to have people worried about our viability - but I would say that the general public is just becoming aware of a situation that has been on our radar for some time. I don't think there is anything "big" coming that isn't already here - what Ian is experiencing is simply attrition - a prolonged economic down turn is finally forcing many businesses to face the fact that it's probably going to be later rather than sooner when we start to experience a "lifter" - to put it in nautical terms.
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