06/ 03/ 2008
by Rex Hammock, Editor and Publisher
As we note in this issue of MyBusiness, small business owners are not very hopeful about the economy these days (see Leading Indicators on page 48). The NFIB Index of Small Business Optimism fell 3.3 points in March to 89.6—its lowest reading since the monthly surveys were started in 1986, and the lowest quarterly reading since the second quarter of 1980.
The strength of the U.S. economy relies on the optimism of small business owners. When they are optimistic, they create jobs and purchase new equipment. But the typically upbeat nature of small business owners is grounded in the reality that comes from coping with the many challenges they face in good times and bad.
In every issue of MyBusiness, we look at both the challenges and opportunities facing small businesses and the lessons we can all learn. There are always challenges—even when the economy is strong. And the opposite is also true. There are always opportunities—even when the economy is in a recession.
One of the business owners we talked to for the “Crisis Averted” feature starting on page 20 is John Rowland, whose New Orleans-based catering business was ravaged by Hurricane Katrina almost three years ago. After being closed for months, Rowland returned home and restarted his company.
Whenever the media pours out a steady stream of pessimism, we’re always inspired by fighters like Rowland, who was determined to prove the experts wrong. That’s the spirit of small business we’ve come to expect and admire.
