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Small Businesses Saving the Economy: Do the Banks Know?
Today's enewsletter from the Retail Council of Canada contained a link to an article that I found particularly interesting. Published in the Tuesday, August 18th edition of The Globe and Mail, it explored how entrepreneurs are saving Canada's economy.
In the article, which was titled The small saviours of Canada's economy, reporter Kevin Carmichael talks to entrepreneurs and business experts about the role small- to medium-sized businesses play in leading an economy out of a recession. In the piece, Becky Reuber, a professor of strategic management at the University of Toronto's Rotman School of Management, explains: "We should care about them [small and medium-sized businesses] because companies like that contribute a lot to innovation and job creation…They will be leading us out of the recession." I read that comment and wondered if anyone had explained that particular fact to the banks, which have tightened up credit for everyone including small- and medium-sized businesses. So much of surviving a recession feels like swimming against a strong current.
One last note: I will be interviewing Doug Stephens from Retail Prophet next Thursday. He was the author of the blog I quoted from in my last entry. If you have any questions for Doug, send them along to me.
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Lori Smith, , Editor-in-Chief
Lori Smith is the editor of Gifts and Tablewares, Canada's premiere gifts and tablewares magazine. Written for retailers of gifts, tablewares, housewares, stationery and home furnishing accessories, its objective is to help readers increase their sales and run their businesses more profitably by providing information on new products, merchandising, small business management, customer service, consumer behavior and industry news. The magazine is published six times a year by BIG Magazines, LP, a leading Canadian information company.
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This page contains a single entry from the blog posted on August 21, 2009 12:00 PM.
The previous post in this blog was Why Consumers Aren’t Shopping at Local Specialty Stores.
The next post in this blog is Does Canada Need More Retail Space? .
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