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This series of SEMA News stories is based on the idea of using reliable and repeatable methods to ensure business success. In coming issues, we will delve into a range of topics aimed at developing Best Practices through knowledge, motivation and skills.
Money has been tight for more than two years. Small businesses were especially hard hit by the recession that began late in 2007, with some estimates indicating that companies suffered sales losses ranging from 10% to 40% or more. The resulting constriction resulted in layoffs, cutbacks, inventory reductions and consolidations that made a bad situation even worse for businesses that were on the bubble between solvency and bankruptcy. Some did not survive.