Navigating Uncertainty and Growing Jobs:
Considering Small Employer Firm Resilience During Challenging Economic Times
Small businesses play a significant role in economic development in the United States, yet understanding is limited regarding the adaptive strategies that successful small employer firms in low- and moderate-income (LMI) communities have used to maintain fiscal stability, as well as retain and add jobs, particularly through the most recent recession.
This practitioner-based study contributes to existing small business research regarding job creation, women- and minority-owned businesses, and strategies for navigating recessions. The primary goal of the study is to identify the critical strategies and tactics employed by resilient small business owners.
The recent recession proved devastating for many small businesses. In fact, losses among these establishments accounted for 40 percent of overall employment decline, compared with 10 percent of losses during the 2001 recession. Yet some firms thrived – what gave these firms a leg up?
In this whitepaper you will:
- learn the 5 key capabilities of resilient firms
- see how firms are harnessing these capabilities to succeed
- have access to case studies