By By JESSICA SIEFF / Niles Daily Star
Is the recession over? If not, when will it be? How do already struggling businesses survive?
These are some of the questions facing business owners today.
A workshop held at the Southwestern Michigan College campus in Niles made an attempt to answer those questions – and offer area business owners a little help.
Members of the South Bend/Michiana SCORE Chapter No. 266, a national nonprofit organization that offers free business counseling to small businesses presented 'Surviving Recession Workshop,' co-sponsored by Chemical Bank.
"We felt it was just a wonderful opportunity to address a topic, that is on everyone's mind," said Eileen Toney, vice president, commercial lender at Chemical Bank.
The session, she said, packed the room at SMC with visitors from throughout Michiana including South Bend, Mishawaka, Berrien Springs and Niles.
Industries, Toney said, varied as well – as business owners within manufacturing, retail, landscaping and design, restaurant and dining, the medical and law fields, were interested in hearing what advice presenters had to offer.
"Right now it's just the uncertainty," said SCORE's Jerry Marchetti, who added that over half a dozen people who attended the workshop signed up for private sessions with SCORE counselors.
That uncertainty can be overwhelming to businesses trying to survive and just trying to figure out what their next step is in attempting that survival.
"We're dealing here with people who are in business," said Marchetti. When it comes to struggling through a recession, it seems, its time to dust off the old business plans and look into whether business models need to change.
And in some cases, it means building a business plan to start with, something Marchetti said should be used as a report card for businesses to see how well they're faring and give them a direction when planning ahead.
SCORE can help. The organization offers "free and confidential small business advice to entrepreneurs," as they try to find solutions to so many questions.
Marketing plans are also important for small businesses looking to pull business in through the front door, and it was a subject that many were interested during last week's workshop, Marchetti said.
As area businesses look for answers, Toney said Chemical Bank is looking into the possibility of sponsoring another workshop with SCORE, though no date or location has been set.
In the meantime, she said, business owners have quite a challenge ahead of them and "people have to be willing to help themselves and that's the key right there."
It's important to "evaluate where their business is at," she added. "If businesses are experiencing some cash flow challenges, there are some things that we banks can do to help them.
"People are struggling and some businesses are closing but I think what we're going to see survive are businesses who recognize they need to change their business model. Things are different. The game has definitely changed for everyone."
SCORE operates out of two local areas, in South Bend Ind. and in Cassopolis.
Though it may seem like a long road ahead, Toney said that may not be the reality. Right now, "there is so much information, for these small businesses and new businesses… There are a lot of resources out there."
Business owners need only tune into those resources and being utilizing them in order to aid their businesses and see them through these tough economic times.
"It's a sit down, thinking process," said Toney. "(And) there's all these things you don't think about," that ultimately impacts business such as pricing elements and marketing.
And those at the helm of their respective business must concede that they might not be able to do everything on their own, Toney said. Just as it is important to have good employees, the need for good legal representation and a good accountant is also vital to one's business.
As the need to diversify and change direction continues within the world of small business and as more and more business owners look into ways to break into new markets or develop new products, Toney said trial and error will come – and owners should be willing to not only develop several options but begin the task of implementing them as well to see if they work.
"And if it doesn't work, " she said. "Be willing to try something else."
Business owners may have no other choice as they the rough waters of the current economy.
"The recession is going to last a while," said Marchetti. "We can't ignore it."
The uncertainty may remain – but so too does the hope for ultimate success on behalf of the area's small businesses.
For more information on score, visit www.score.org or www.southbend-score.org.