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10.07.08 SME Owners Still Going Strong  By Danny Brown If there's one thing that you can guarantee the media to do, it's over-exaggerate. Coming from someone in PR, this might sound a bit like the pot calling the kettle black (although I'd like to think I've never been one of those public relation stereotypes that succumbs to hyperbole in every sentence). The current economic woes that we're all facing is a prime example. Yes, the powers-that-be have led us into an almighty mess and it's absolutely disgraceful that they then expect us to get them out of it. But are we really in as bad a situation as we're told? Looking around me, it's hard to believe that there is actually a depression, whether current or about to happen. The malls I shop in are as busy as ever, the gas station forecourts have the normal amount of drivers filling up and the bars and restaurants are still enjoying a roaring trade. Just as importantly, from a business point of view, is that my clients are continuing to request new projects as opposed to trimming them down. Why is this? Is it a matter of people and businesses putting on a brave smile and trying to show they're not affected, in an act of false bravado? Or maybe if we see someone filling up their car and ordering a $50 steak we'll assume they must be doing okay, even if behind the scenes they're panicking? Personally, I don't subscribe to this train of thought. Instead, I believe it's simpler than that - businesses are doing better than the money men of our relevant elected Government's would have us believe. Or at least a section of the business world is - the small-to-medium enterprises. These are the businesses that have continued to be profitable and don't have to decide which sub-section or division needs to close, despite the multi-billion dollar bailout deals currently floating through our financial systems. These are the businesses that are growing, even when other much larger corporations are selling out or closing down. Why? Simple economics. Instead of being greedy and expanding way too quickly or plunging money into dubious quick profit schemes, the smaller business owners have always been the savvy ones when it comes to managing money. SME owners know their limits and don't over-expand too quickly. They see their niche and strengthen their position in it and only then do they look at expansion. I'm fortunate that I work in a medium that allows me to connect with a truly international client base. I also don't restrict myself with the traditional tools of the industry I'm in. This is true of other business owners in other industries who are saying, "What downturn?" It's not that it's a dangerous or irresponsible view to take either - again, it's simple economics. Small-to-medium business owners aren't affected as much because they have built their business on the knowledge that it takes patience, and excellent service and products, to build their brand. They have been thrifty when it comes to extravagant spending on PR or marketing, choosing instead to have one or two strong campaigns as opposed to the "throw as much as you can and see what sticks" approach. Now, while the big corporations are finding out where they went so desperately wrong, the SME's are reaping the rewards. Perhaps it's a message that the economic adviser to the next President of the US would do well to heed. Comments About the Author: Danny Brown is the owner of Press Release PR, a boutique PR agency specializing in search engine optimized press releases and promotional campaigns for the Web 2.0 world. He is also a guest author on Web Analytics World. You can read more of Danny's articles and opinions at his PR agency blog. |
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