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Almost exactly a year ago, the economy went into a tailspin in its most public way, with banks getting taken over by the government and the country’s largest insurance company getting bailed out.
Since then, 108 banks have shuttered, others have consolidated and 35 percent of domestic banks have tightened credit for small firms in July, according to a recent survey from the Federal Reserve. Of course, most small businesses don’t need a survey to tell them credit has dried up.
So, don’t you wish someone had told you back then to ask your bank for a bigger line of credit?
Well, someone did. Last year, at SAF Palm Beach 2008, speaker Paul Goodman, CPA, gave that as his No. 1 piece of advice during Financial Survival Kit, Dos and Don’ts.
It’s that kind of business-saving, practical, must-implement-as-soon-as-I-get-home-from-convention information that's drawing about 270 retailers, wholesalers and growers to the SAF’s 125th convention this week in Phoenix. With business owners watching every penny and operating with leaner staffs, the choice to spend a few hundred dollars and few days away from their business might seem like a tough one – until you talk to attendees.
And that’s exactly what we did:
“This year, more than ever, we should be here,” said Jeffrey Dyer, who along with his wife, Leanne, are two of the 37 first-time attendees. The owners of Pizzazz Floral & Garden in Cheyenne, Wyo., said they are are especially looking forward to the session on building sympathy business and the Idea Swap, a fast-paced, high-energy session that packed in attendees last year.
“I told my managers to clear their calendars and get ready for a idea-packed dinner when I get back,” said Shari Lane of A Flower Fair of Las Vegas. “I’ve been in the industry for 20 years but as a manager of managers, I need this to re-energize and re-focus.”
"I couldn't afford not to come," said Cora Morrison of Des Moines Florist, another first-time attendee who said a tough economy made the decision to come an easy one. "In times like this, we need one another as a sounding board and reality check. And we need the kind of speakers and networking SAF offers to recharge."
“I am here for the business side; I can do the design but you can’t beat the how-to, financial side information,” said Jeane Meiers of Jeane Meiers Florist in Stanley, N.D. “And I had to hear it from Paul Goodman in person. That’s the kind of information you can’t miss.”
That sounds like an endorsement you can take to the bank.
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