Cleveland, OH., March 25, 2013 — What is the biggest challenge for U.S. based small businesses who are faced with a stagnated economy and daily news of increasing foreign competition? Experts at RFxConnect, the fastest growing online destination for Buyer-Supplier Matchmaking, say the most significant challenge is not the availability of RFx opportunities — but how to effectively connect with buyers who have immediate needs.
“Business growth will be much easier this year,” said Herman Garner, president of RFxConnect. Relying on the Wall Street Journal, Mr. Garner predicts that “small businesses will certainly face a few additional challenges, but strategically positioned companies can expect to win some important contracts as major buyers prepare to meet pent-up consumer demand for products and services. Those companies who have not strategically positioned themselves,” according to Mr. Garner, “can look forward to fewer contracts and forced downsizing.”
Aggressive suppliers can find the tools and the expertise they need to search for available opportunities at RFxConnect. A new special section on RFxConnect: Marketing your Business to Major Buyers, is aimed at helping small businesses master the art of winning contracts with major buyers. Initial sign up is free. Membership is only $19.95 per month.
The NFIB Small Business Optimism Index increased 1.9 points in February to 90.8. While a nice improvement over the last several reports, the Index remains on par with the 2008 average and below the trough of the 1991-92 and 2001-02 recessions. The direction of February’s change is positive, but not indicative of a surge in confidence among small-business owners.
NFIB chief economist Bill Dunkelberg reports “While the Fortune 500 are enjoying record high earnings, Main Street earnings remain depressed. Far more firms report sales down quarter over quarter than up. Washington is manufacturing one crisis after another—the debt ceiling, the fiscal cliff and the sequester. Spreading fear and instability are certainly not a strategy to encourage investment and entrepreneurship. Three-quarters of small-business owners think that business conditions will be the same or worse in six months. The Index gained almost 2 points last month; that was good news. But, until owners’ forecast for the economy improves substantially, there will be little boost to hiring and spending from the small business half of the economy.”
According to NFIB, small business demand for credit remained weak in February. Only 7% of owners surveyed reported that all their credit needs were not met, up 1 point but only 3 points above the record low. Twenty-nine percent reported all credit needs met, and 51% explicitly said they did not want a loan (64% including those who did not answer the question, presumably uninterested in borrowing as well).
The trend reported by NFIB demonstrates that many small businesses are failing to position themselves to capitalize on the anticipated release of pent-up consumer demand. A prudent small business person, however, will carefully manage open lines of credit and strategically position themselves to connect with buyers who have available opportunities.
RFxConnect.com, the most powerful Buyer-Supplier network on the Web, is the leading provider of targeted buyer-supplier matchmaking. Through the RFxConnect network, buyers can post opportunities to pinpoint exactly the right suppliers by location, industry, NAICS Code or diversity. Suppliers can instantly search available opportunities from private, public and governmental agencies. RFxConnect also provides personalized matchmaking services and advice. Perhaps equally important is the fact that it is as easy to use as CareerBuilder, Monster or Indeed.
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