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Be thankful for your business

Be thankful for your business

This Thanksgiving, home improvement businesses can be thankful for a steady stream of work. Homeowners are not easing up on their demand for home products and services. Although challenged with supply chain disruptions, labor shortage, high gas prices and inflation, home professionals are staying busy. Many remodelers are booked through June of 2023.

Over the past year, the United States economy started to come back to match pre COVID-19 levels in certain industries. The most critical economic indicator, the gross domestic product is at an ideal rate between 2-3 percent. In the third quarter of 2022 the GDP growth rate was 2.6% but is predicted to weaken to 1.2% in 2023. It’s hard to know what’s in store for 2023, so let’s be grateful for another good year. Your positive thoughts will improve your outlook on your business plans for next year.

Small businesses have additional special attributes and perks they can be thankful for. Here’s some of them to acknowledge and be proud of:

Best Leadership– Who could be a better boss than yourself? You call all the shots. You build the business the way you think is best.

Family-Operated – You can make work a family affair and have many generations be a part of the growth and success of your business. Working side-by-side with your parents or kids is very special indeed.

Small Business Financial Assistance – As a small business you have opportunities to apply for financial assistance. The U.S. Small Business Administration (SBA) offers many kinds of loans and grants to small businesses. The state of California has the California Rebuilding Fund to help small business flourish. There are also financing options and grants for women-owned businesses.

Easy Marketing – Small business can be extremely successful marketing and advertising on the Internet for little cost. Through the world wide web, as a local shop you can sell your products or services to your community or worldwide.

The Freedom To Rule – Owning your own business gives you the freedom to create a workspace and environment that feels right for you and your employees. You can hire and work with who you want to work with. You can set a flexible schedule.

Help the Community – Your business helps the local community. As a successful company, you are a leader in business that can share and give back.

This holiday season, small business owners can be thankful for enduring the pandemic turmoil and reaping the rewards of the economic upturn. Be truly thankful to the people that helped you and your business get where it is today.

By Kathy Latus

Sources: Bureau of Economic Analysis, The balance , California Rebuilding Fund, Small Business Administration