Small businesses overcome recession, make plans to prevent future loss

By SYDNEY PRICE

After the recent recession, it can be hard for small businesses to be successful. However, two middle-Georgia businesses have managed to stay afloat.

It can be very difficult for hometown businesses to be prosperous due to recent changes in the economy. Two Sandersville business owners have managed to overcome the recession: A.W. Smith with A.W. Smith Sporting Goods and Susan Lewis with Raymond James Financial Services.

A.W. Smith, owner of A.W. Smith Sporting Goods, getting paperwork ready for the following week. Photo by Sydney Price.
A.W. Smith, owner of A.W. Smith Sporting Goods, getting paperwork ready for the following week. Photo by Sydney Price.

Now, they are having much success with their clientele. They express their plans to combat the recession, their outcomes, and future plans in case another recession was to hit.

“When the recession hit, you just kind of pull in the reins a bit,” said Smith. “Any plans you had to take on a new endeavor, buy a new piece of equipment, you had to put that on hold to get through.”

Smith reported that he did not lose customers, but instead experienced a cutback in the volume of merchandise customers would order. He never considered shutting his business down.

Financial advisor Susan Lewis said her business was also affected by the recession, but in a different way.

“The stock market is usually about six months ahead of the regular economy, and so a lot of times if you pay really good attention to the stock market, you can understand what’s going on,” she said.

Lewis also said that she noticed trends in her clients’ financial moves and used this to plan her personal finances accordingly.

“During a recession it’s really hard because you have a tendency to wallow in the pit, but I had actually already prepared a little bit,” said Lewis. “I didn’t let myself get into the mud pit, so it allowed me to help my customers and pull them over to the other side.”

Lewis also reported an increase in the number of clients during the recession. But she said that a lot of her colleagues lost business during that time. She gave a piece of advice in case the recession was to ever hit again.

“I would encourage people to have more in cash, rather than having everything invested, just to have a cushion there,” she said.

Now that the recession is over, businesses have had to make many changes to get their industry back to where they were previously. These small businesses are no exception.

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