Chicago Small Business Owner Says It May Be Time To Invest In Business Again
Written by Ken Gaebler
It's time to embrace calculated risks and start re-investing in your small business, says one small business expert.
In 2009, Jay Goltz was decreasing his inventory. Now, the owner of five Chicago businesses, and writer of The New York Times' small business blog You're the Boss, said he is re-investing in his businesses.
This may come as surprising news for small businesses, many of which have been saving money and holding their own. But Goltz said businesses who remain stable should try to push forward.
"[If] you can afford to take some calculated risks, this might be the time to get out of the bunker and try to get ahead of the pack," Goltz said, adding that he is revamping the business for one of his shops and purchasing a bigger warehouse so he can buy in larger quantities to save money.
Goltz said many businesses need to focus on moving forward, taking some chances and building their company up instead of standing still.
If more business owners take the initiative to invest in their company, there could be a slight improvement in the economy by virtue of more jobs for small businesses. According to numbers from the U.S. Small Business Administration, small businesses have generated 64 percent of new jobs over the past 15 years, and represent 99.7 percent of all employer firms, pay 44 percent of the U.S. private payroll and employ just over half of the private sector employees.
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