SMALL BUSINESSES: Economy On The Mend
Iowa’s unemployment rate has increased in recent months, as the national numbers declined.
But, Iowa small businesses owners say they’re seeing the economy turn around here.
Helping small businesses succeed is the goal of One Social Media.
CEO Joe Soto says just like the businesses he speaks to he also started from the ground up.
He says despite a rocky economy small businesses can still thrive if they just take the right approach.
“Economically, Des Moines is an interesting place because businesses here aren’t willing in oh there’s a down economy, I think there are a lot of people like myself who are ambitious entrepreneurs who are saying how do I seize the day and play to the economic forecast and fill a need for businesses who might need some help,” says Soto.
Here in Iowa small businesses are the backbone of the economy.
According the Small Business Administration, in Iowa there are over 257,000 small businesses.
Those represent 97.3 percent of Iowa employers, and employ 51.3% of Iowa’s private sector workforce.
The Iowa Small Business Development Center says the state’s been lucky but small business owners still need to plan for the ups and downs.
“If you have the ability to see what is needed what is going to be in demand and hold that demand in good times and bad times that helps a lot,” says Sherry Shafer with Iowa SBDC.
And Soto agrees, saying it’s not what numbers come out, or what the economy brings, but how you handle the situation.
“Like every business out there we’ve had our ups and downs and we’ve fought through those, we’ve had the good fortune to have really good employees, and we’re continuing to hire right now,” says Soto.
Iowa workforce development will release September’s job numbers Friday.
In August the numbers increased slightly to 5.5 percent.