Small Business Priorities

Being a small business in 2011 is no easy task. The economy is sluggish, and scores of small businesses have gone under. Hopefully the future is brighter, and small business should be wise when creating priorities for this year.
For a lot of companies the number one priority is survival. The Forum of Private Business conducted a survey, which found that 35% of respondents felt that making it through was the focus of their activities. In a time of lay-offs and good ideas gone bad, small businesses just want to get through the rough times to reach the brighter future ahead.
Any company that is teetering near bankruptcy needs to focus on the strategies that will keep them afloat. They need to take whatever measures necessary to ensure that the business will not go under. They may want to run full speed ahead into new projects and great ideas but they must be careful in this economy.
In addition to survival, firms have made keeping employees a priority. Laying off an employee is difficult in both a business and personal sense for most employers. They do not want to strand more people, thus leading to a greater falling of the economy as more people are out of work and have less income to spend.
During the aforementioned survey, 28% of businesses were focused on consolidation. They may be doing what is necessary to survive with this method.
Of course growth is a reasonable goal for any small business, and can definitely be considered a priority if a small business is doing well despite the economy. Only 3% stated that as their goal in the survey, and yet it is always there. In every market there are some who will thrive, and small businesses may look to expand. This can be especially true if the economy picks up.
Small businesses may also work to encourage favorable legislation. According to the Orlando Sentinel, the National Federation of Independent Business Florida Chapter created priorities of the political flavor. Companies may want more favorable tax breaks, for instance.
Small businesses will work to create and adapt products to the current market of 2011. With many consumers tightening their financial belts, some luxury products may have to be scaled down to meet the price points consumers can meet. Also businesses strive to find pricing models that will attract customers in this economy but still give them the profits they desire.
Different small businesses will set very different priorities for 2011. The above priorities are commonly seen in this challenging year.
Resources:
http://www.fpb.org/hottips/683/Referendum_194_%96_your_small_business_priorities_for_2011.htm
http://articles.orlandosentinel.com/2011-04-03/business/os-cfb-small-business-0404-20110403_1_small-business-group-small-businesses-nfib-florida