One industry expert opines on the market opportunities for Canadian small businesses
One small business expert says that the recession is making small businesses "stronger" and that plenty of opportunities still exist for them in the market.
According to industry expert Andrew Patricio who trains small business owners, keeping customers happy and using innovative marketing to help woo new ones is key during the downturn.
"The recession is forcing a lot of business owners to snuggle up to their best customers, get more creative with their marketing dollars and focus on what they do best, " says Patricio.
He also suggests that as large corporations are working under tighter financial limitations many are outsourcing work to small businesses. This could be an opportune time to grow a customer base if small businesses pitch clients with an attractive plan, he advises.
In a reversal of roles, some small businesses find that outsourcing some of their own operations helps relieve management stress. For example, some business owners opted to outsource payroll management during the tax reporting season which helped insure all dates and new regulations were captured.
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