Working as an intern for a large mulit-billion dollar business, you may think that I do not see effects of the recession as much as other people. However, I am seeing them more and more every day. For example, not only are they laying off people in the next few months, they are also only taking on half the amount of new hires. This has a large effect on me, as I will be graduating and competing for one of these spots. Also, in looking around the office, there have been many cutbacks including no coffee or lunch for long meetings and a lot less corporate travel. In seeing these changes, I wonder how the recession is effecting the small business community.
I read an article about small businesses and the recession and it seems that they are being hit just as hard. Economists are predicting a recovery by the year 2012 but will the small businesses last that long? I guess only time will tell.
This is the article I read: http://www.morebusiness.com/recession-small-business
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I have definitely seen the effects of this recession also. I work at a local hospital which just laid off almost 150 people a few months ago. I would like to open a business within the next 5 years but I am wondering if that would be a good idea if the economy stays the way it has been. I'm sure it will be difficult to get financing for a new business and also hard to make a profit in this economy since most people are now cutting back on many extra expenses.
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