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Friday, June 26, 2009

How Businesses That Have Been Hit the Hardest by the Economy Can Survive

The economy right now is the worst anyone has seen in this country for a long time. Some say it will be the next depression of our time. Many people have lost their jobs due to their companies struggling and many businesses are having to close down after years of great success. Some businesses have been hit harder than others and this article will touch on those areas of business that have struggled so much and are in desperate need of help. Those businesses are Atlanta auto sales, Atlanta restaurants and Atlanta contractors have been the hardest hit by the failing economy in America.

Car sales are in the worst shape since the depression these days. Two major car companies, Chrysler and General Motors have now filed bankruptcy hoping as a last chance to save their businesses. These two companies alone have provided thousands of Americans with jobs all over the country. Large plants of these companies have had to be shut down causing a real economic crisis in many towns that solely relied on that company for business like Detroit and Flint, Michigan. What these companies needed to survive was a bit of help from the government which they did get and hopefully the combination of that and offering great deals on cars to people will get them out of their turmoil.

Restaurants have also been hurt by this economy. With Americans having a tighter budget, one of the first things to go is extras and entertainment expenses. Restaurants fall into this category and people just can not afford to spend $50 on a dinner out when that $50 can go a lot farther in groceries to feed themselves and their families. Many restaurants are downsizing their space or moving to a more affordable one to save their business and this is a great solution. Also, lowering prices a bit or offering a "stimulus package" special once a week will urge customers to come into their restaurants for a great meal that will not kill your budget.

The final area of business that has been greatly affected in this economy are builders and contractors. What was once a booming industry with areas booming and growing resulting in new construction has now died down due to the economy. People are staying put in their homes rather than building their dream home since many have lost significant savings in the stock market. Others that also wanted to remodel are now holding off until things get better. All of these decisions have hurt these contractors a great deal. A great idea is to push home renovations as a solution to moving to the bigger home. This in the long run will provide great equity in the homeowners house and at the same time give the builder some business. A win-win solution for all of the parties involved is a always a great idea.

With a bit of creativity in your marketing and a lot of luck these industries as well as others will succeed again.


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