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Editorial: New business

Thursday, January 28, 2010

We are accustomed, after months of recession, to hearing every bit of positive economic news hedged by cautionary statements that allow for even more bad news. Unemployment claims dipped -- but it will take years to replace lost jobs. Housing prices show signs of recovery -- but thousands of homeowners still face foreclosure. Stock markets have risen more than 60 percent since last year's bottom -- but this bubble may burst.

Against this backdrop, there is some bright news in Cape Girardeau: In 2009, 168 businesses opened and 47 closed, reversing the trend of the previous two years when more businesses closed than opened.

The owners of these new businesses face a maze of factors that will have an impact on their success rate: higher minimum wages, ever-increasing government regulations, finding financial backing to sustain them until they are established enough to make a profit.

There is something to be said for these risk-takers who are finding innovative ways to create and fill new markets. As one owner of a startup business commented: "It's definitely not business as usual."

Keeping these businesses afloat will require a solid customer base. Supporting new businesses is one way of strengthening the community's economic base. Good luck to all these enterprising efforts.

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Great article. This understanding of the economy by someone who's been there is critical when legislation is considered. A fellow self-employed friend confessed to me his wife couldn't sleep for three days when they mortgaged their house to start their business.

Small business owners spend many sleepless nights, yet they dream of personal control of their lives and finances. We benefit from their job opportunities and superior products developed from their creativity.

Borowing for government stimulus and operations competes for the same dollars private industry needs; this makes the cost of hiring more expensive.

Visit http://larrybill.com/

Larry Bill, Independent Candidate for Congress, 8th District

-- Posted by nolimitsonthought on Thu, Jan 28, 2010, at 9:16 AM

I wish you entrepreneurs the best of luck.

Larry Bill; as expected, all the king's horses and all the king's men couldn't put the economy together again. Perhaps entrepreneurs will.

Will visit your website.

-- Posted by BCStoned on Thu, Jan 28, 2010, at 12:26 PM

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