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Small firms pushing through recession

Small firms pushing through recession

Small firms pushing through recession

Surviving the recession is a tricky business, but for some small US-based firms it is by no means impossible.

According to the New York Times, online firm Notonthehighstreet.com is managing to stay afloat and also grow during the global economic downturn.

In an article about the company entitled The Perils and Pleasures of Entrepreneurship, the newspaper described the UK-based company as a "niche online retailer" that is "going from strength to strength".

Notonthehighstreet is a showcase for original art and craftwork and the NY Times asserted that the hard work put in by founders Holly Tucker and Sophie Cornish is starting to pay off.

Ms Cornish explained to the publication that the company has predicted 150 per cent growth for 2009, with revenue of £5 million ($7.4 million).

However, she acknowledged that there is still an awful lot of hard work to be done to maintain the success Notonthehighstreet has achieved thus far.

Ms Cornish said: "When we started out, we were given pertinent advice. It is not about how clever and commercially savvy you are, it is about how much pain you can take."

It is not just retailers that appear to be weathering the economic storm, however, as the Los Angeles Times has pointed out.

The newspaper reported on One Day Signs, a specialist company based in Anaheim, California that produces custom-made signs.

An article about the firm, Family firm needs to stir up sales so father and son can do what they love, details how there have been various financial difficulties to overcome in the last six years, but now things have managed to stabilise.

Profits dropped from $1.5 million to $250,000 six years ago following the creation of a rival business, but in 2008 sales were back up to $400,000.

Owner Robert L Holton also runs an art studio where he produces his own work, but he is not sure how he can devote time to both projects.

"I'm torn between the two," he was quoted by the Los Angeles Times as saying.

However, according to family business consultant Ernie Doud, increasing sales should be the main goal and enlisting the help of a commissioned salesperson may be the answer.

Mr Doud told the newspaper: "I hope they can get passionate about making their dreams come true."

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Small firms pushing through recession

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