All the small businesses we have are affected by the global financial meltdown. As we supply for bigger manufacturers and industry has slowed down a lot in India, our small businesses are feeling the impact. There is no much difference in our personal lives as the financial impact is not that strong, but the production has decreased a lot. We as small business owners know that we have to just wait and watch what the big players and governments are going to do.
My income from online small business, I can call them micro businesses, has decreased. Not many people are spending online. No one is accepting this in the money making niche for reasons best known to them but this is the truth global slowdown has affected businesses everywhere and that is why it is called global slowdown though the degree impact is different on different businesses. I am following the same wait and watch attitude for my online businesses.
There are two major differences I can find between the online and my conventional businesses. The number of hours I am putting into my real businesses has decreased because here my businesses dictate me what to do on any given day. But I am spending more time with my online businesses, marketing and linking, because I wanted to be ready for the good days when they eventually arrive.
The other difference in the impact of financial meltdown on my small businesses online and real is the actually the impact on my workers. As the production came down, most of the workers are with at least 40 percent less work. This made them little anxious about their present and future. Most of them will lose their incentives which is the immediate impact, but they are also worried about their futures. Every morning when I reach the factory, I see anxious faces looking for a reassurances from me. I do try to convince and comfort them, but they are not very convinced with the decrease in production.
I don't have any workers for my online businesses and they are very small micro businesses, and hence I don't face the same anxious looks.