We have a few more weeks left before not only this year is over, but a complete decade.  Wow, think about that for a moment.  From the great start of 2000, when we were coming out of the late 90’s low, until the tough end of 2009, it has been a classic example of a typical business cycle. 

What a wild ride it has been.  Any business that has started during this time has seen the highest highs and lowest lows of our economic environment.  We all know that business comes in cycles but this cycle has been a real tough one.  In the past decade we have had the largest economic boom ever and our worst unemployment rate since the Great Depression. There have been many small and large businesses knocked out and even more knocked down. 

Entrepreneurs are a tough breed and I feel good going into 2010.  The

2010 looks to be the end of the downward cycle as businesses that have survived are learning to survive with less.  Most business owners that I talked too have turned the corner and are doing financially better than the same time last year.  Now that’s not saying much since they are still down 30-40% from their high, but it does show a positive trend.  New products, new processes, openness to change, new technology and available, qualified work force are all changes that are helping the businesses turn.    

I think that the 2010 will be the year that the country turns the economic table and starts digging out of the recession.  For most owners that I speak with, the real question is how long will it take for economy to get back to it was before.  That’s a tough one.  Interest rates are still low, the stock market is doing better and banks are loaning money again.  These are all good signs for 2010.

There is good news for 2010 and sometimes it takes losing everything to appreciate what we have.  We have been forced to go back to basics and look at cash flow and profit/loss statements.  We now make business decision on how it affects the bottom line, not just because we want it.  We have to actually qualify for loan based upon our ability to pay for it and we have the ability to find very, very qualified people that appreciate a paycheck.  We have landlords that are happy we are staying and actually sending us Christmas cards instead of rent increases.  We have college kids that are willing to work as interns for no pay, just for experience.  And finally we have the entrepreneurial drive inspiring new companies and products as corporate jobs have been removed.

As I look back I think we learned a lot over the last decade and are excited about the future.  We live in a global economy where our decisions affect the world.  Our medical advances, technological improvements and entrepreneurial spirit are better than ever.  We have a long battle in front of us but that’s the way entrepreneurs live anyways.  We live with our toes over the edge, fighting and getting up each time.  So good bye to 2009 and hello to 2010!  Happy New Year and I wish you the best in 2010.

This entry was posted on Tuesday, December 15th, 2009 at 2:21 pm and is filed under Strategic Advisors, Selling a Small Business, Sell Your Business, Exit Stories, Exit and Answers, Buy a Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.