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Updated: 10:39 PM Oct 13, 2009
Opening a Small Business in a Bad Economy
Harrisonburg, Va. Starting a small business can be a daunting task, but taking that risk in a bad economy can be scary.
Posted: 5:30 PM Oct 13, 2009Reporter: David Johnson Email Address: david.johnson@whsv.com |
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Starting a small business can be a daunting task, but taking that risk in a bad economy can be scary.
However, one business consultant says now may be a good time to invest in a small business and to purchase a vacant store in a commercial downtown of a small town.
"There will be a resurgence with shopping with local business. The whole movement for sustainable, for green, for not traveling far and buying products that were made locally and not shipped thousands of miles and wasting fuel. So if you can afford to open a business today, you are going to get a great deal on an empty space," says Marc Willson of the Virginia Small Business Development Center.
Willson met with small business owners and aspiring owners at Clementine's Cafe in Harrisonburg Tuesday morning.
He stressed the fundamentals of starting a small business, including the ability to afford it.
"The main thing I tell a new business owner or somebody just starting a business is do not open it under capitalized, because it's a hard row to hoe. It's very difficult. You'll be treading water for the entire experience," says Willson.
He also says there are advantages a small business has over larger stores.
"Individually owned businesses are personality driven and can offer experience that no one else can, including Wal-Mart. So differentiate," says Willson. "The experience is more important than the product. Don't fight the price war and make the shopping experience memorable."



