Many Canadian small business owners are finding the silver lining in the economic downturn
The past year has presented some unique challenges, but many Canadian small business owners are finding a silver lining in the recessionary storm cloud, the Financial Post reported.
For one, many companies have found that global expansion can be a valuable means of small business growth even in the face of the recession, something that may be more feasible for smaller businesses than larger ones because of their flexibility.
"In terms of new markets, it's interesting because small businesses are showing much more interest in seeking out greener pastures compared to big corporate players who are definitely not as ambitious simply because of their size," Colleen McMorrow, partner and director of Canadian Strategic Growth Market Practice at Ernst & Young Canada, told the newspaper.
In addition, the recession has brought opportunities for small businesses to take advantage of gaps in the market left by small businesses that have been forced to close their doors.
Michael Dell, founder of the Dell computer company, seems to agree - in a recent interview with Inc. magazine, Dell reported that small business growth opportunities can be found even in the face of a recession.
