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By Kelsey Allen

When the economy outlook is rough, consumer behavior most definitely changes. For businesses concerned about their bottom lines, dwindling sales can have far-reaching ramifications. However, businesspersons should not commit themselves to doom and gloom just because the economy is dragging. Here are some ways you can actually increase sales in a struggling economy.

1. Discounts – Straight discounts are fantastic when the economy is in a rough patch. For example, retailing institutions such as Wal-Mart typically see significant sales increases when the economy is in a down turn. This is because consumers are being significantly more judicious when it comes to purchases. The only way to take advantage of newfound consumer stinginess is to offer discounts on certain products. 

2. Luxury and Necessity Good Placement – The first thing consumers in financially tough times will do is cut out luxury goods. If your business markets these types of goods, then this is definitely not welcome news. However, one way to work on increasing the sales of luxury items is to place them close to necessity items in the store. Many luxury items are impulse buys, so while customer’s may still be hesitant, they will at least see the products and be more inclined to decide to buy them.

3. Add More Workers – One of the biggest things to slow down sales during a busy time is to have too few people working. In tough economic times, it’s tempting to try to cut back hours and save money, but the money you’ll be losing will be more. Remember, though, if some in your workforce is not pulling his or her weight, don’t add someone new just to make up for it.

4. Special Promotional Offers – If people are being more judicious in their expenditures, then they want better deals. Special offers, such as “buy one, get one free,” can do wonders to draw consumer interest. Offering discounts for a certain purchases based on quantity or total cash spent is great for motivating consumers to make more purchases.

5. Giveaways – Everyone likes free stuff. While TINSTAAFL still applies, having a giveaway can do wonders to increase store numbers. If a business had a special giveaway regularly, then overall customer numbers would likely increase. Make sure that whatever you decide to give away will entice new customers to start make purchases.

6. Celebrity Endorsements – If your business has the ability to pay for Celebrity Endorsements, why not consider it? Local celebrities are still celebrities, so endorsements can be just as effective. Nothing can help increase brand awareness quite like the local college’s football coach, or everyone’s favorite public access TV star.

7. Local Commercials – If you can get local stars, then local commercials would be the natural progression of things. In all seriousness, local commercials can be a fantastic investment even for a large company, because of an excellent targeted consumer base. In a dragging economy, consumers become more demanding and want to know what you offer especially for them. Local commercials are a great way to get such a message out. Just make sure you don’t make an awful local commercial.

8. Make it a “Must Have” – If you find less of your product is flying off the shelves in a bear market, and then you need to make your product a “must have.” Companies like Apple Computer are still able to have solid sales in rough economic climates because their products have the “cool” factor. They become “must haves” because Apple is able to bridge the gap between needs and wants.

9. Longer Hours of Operation – When sales are in decline, one great way to rectify this is to lengthen the hours of operation. If you are open for longer hours, then you should see an increase in sales. It’s amazing how many businesses fail to take advantage of sales opportunities simply because of an adherence to hours.

10. Go Online – If you’re attempting to make sales, and you don’t have an online facet to your businesses, you’re missing out on great opportunities. Increase sales by making a web site. Giving consumers the ability to shop online can do wonders to increase sales. Make sure your web site is easy to use and customer-friendly. The more ways potential customers can access your products, the more opportunities there are to make a sale.

11. Go Green – Concern for the environment is at an all time high in this day and age. Businesses with social consciousness who are concerned about the future of the planet will definitely enjoy positive PR. So, if you are noticing that sales are taking a nosedive, it can be a fantastic idea to revitalize your business by going green. Believe it or not, investing in energy efficient lights, recycling, and fuel-efficient technologies can do wonders for your bottom line.

12. Go Global – If you need any proof that today’s business world is truly global, look no further than the stock markets. When one country’s market is in decline, other countries’ markets will soon follow. The best way to combat this is to make sure your invested in every market you can be. You can increase sales simply by widening your consumer base. That way, when tough economic times abound, you’ll have more customers in more places around the world, which leads to a greater chance to not have any sales declines.

13. Advertise Online – Having a web site is great, but actually advertising online coupled with having a web site is even better. Google AdWords is an excellent way to promote your web site and increase your sales with a positive ROI. Having an online presence can help, but it is much more helpful to be an industry leader when it comes to online enterprises.

14. Word of Mouth – Some of the most loyal customers come directly from word of mouth. The best way to generate word of mouth buzz is by having high quality service coupled with effective ad campaigns. Word of mouth is the trustworthiest type of advertising. Essentially, this means that your biggest sales increases will come if people decide to tell their friends and family about your business.

15. Relocate – Some areas are simply more economically sound than others. If you find that your sales are dwindling significantly, then it’s a good idea to consider relocation. Moving into a bigger market, or a less competitive market can do wonders for the bottom line of any business. Moving is not an admission of defeat, but rather, an affirmation of a willingness to have success, even if success comes at the cost of leaving one’s comfort zone.

Increasing sales is more difficult to do in a sluggish economy, but it is not impossible. These few ideas have the potential to do wonders for any sales numbers. However, it’s always important to realize when your product has reached it’s limitations. Remember, it’s never a bad idea to start thinking about different ways to generate revenue since sales can be quite variable.
 

Video games are often written off as useless entertainment, but the truth is that they have a lot to offer. For business, they can provide valuable training and information in a medium that’s fun and easy to understand. Read on to learn about 50 games that are both fun and good for business.

Business Strategy

Get a look at strategy, markets, and more in these games.

1. Competitive Strategy Game: You’ll be able to decide which markets you’d like to enter, what you’ll produce and how much, what to charge, and more in this business strategy game.
2. Zapitalism: In this game, you’ll make investments, corner the market, and create stores.
3. Business Tycoon: Create a corporation that will dominate world markets in this game.
4. Crazy Factory: In this game, you’ll be the owner of a derelict factory, which you’ll have to work to improve and manage.
5. Harry the Handsome Executive: Help Harry navigate the hass of ScumCo to protect his job security in this game.
6. IndustryPlayer: IndustryPlayer simulates strategy, investment and more from an entrepreneur’s perspective.
7. Gazillionaire: Gazillionaire is a business simulation for grade schoolers.
8. IndustryMasters: In this massive multiplayer game, you’ll play real time against others in business strategy.
9. Identity Hero: In Sun’s game, you’ll take on the challenges of an IT manager, avoiding a variety of threats.
10. Lemonade Stand: The Lemonade Stand game is all about supply, demand, and customer satisfaction.
11. Dope Wars: Although most business people will not benefit from learning about drugs, this game has a lot to teach about moving product.
12. Better Business Game: Play the Better Business Game to learn about managing the social and environmental issues that come up in business.
13. Planet Green Game: Learn all about energy conservation and consumption in this game from Starbucks and Global Green USA.
14. The Environment and the Economy: Through this game’s focus, you’ll learn about how the environment can have an effect on business.
15. The Office: Based on the popular TV show, The Office will allow you to live a day in the life of a Dunder Mifflin employee.
16. Billionaire: In this game, you’ll play the part of a businessman in Billionaire City, where you can create companies, collect rent, and decide on investments.
17. The Corporate Machine: Build your own company to take over the world in this game.
18. Diplomacy: Although this game is political, you can learn a lot about negotiation through it.
19. Profitania: Be the best manufacturer in Profitania, and you’ll learn about strategy and winning the open market.

Economics

These games can teach a lot about economics and finance.

20. Capitalism II: You can build a business empire through this game.
21. Eurogame: This online market game will show you a year in business managing different companies and investments.
22. Stock Market Game: In this game, you’ll be given money to invest and learn with on the stock market.
23. Wall Street Raider: Play Wall Street Raider to learn about corporate takeovers, the stock market, and the government on Wall Street.
24. Iowa Electronic Markets: Play this online futures market where you’ll be paid off based on real-world events.
25. Beat the Market Online: Play these simulation games to learn about microeconomics and managerial economics.

Specific Industries

These games are useful whether you’re training for a job or just want to learn more about what someone else’s work is like.

26. Casino Empire: Play Casino Empire to find out what it’s like to own a casino.
27. Cake Mania: Work as a cake maker in this game with your own kitchen and challenges.
28. The Sports Store: This business simulation game will show you what it’s like to operate a sports store.
29. Monopoly: This old board game classic is now available as a video game, and its lessons are still valuable today.
30. Build-A-Lot: In this game, you’ll buy land or houses, sell or rent them, and develop lots of different real estate.
31. Real E$tate Empire: In this game, you’ll buy houses and flip them for profit.
32. Intel IT Manager: Intel’s IT game will allow you to hire, fire, and manage an IT department.
33. Interstellar Pizza Express: In this game, you’ll run a pizza delivery store that offers online orders, and you’ll have to make decisions about hosting, traffic spikes, and infrastructure for the system.
34. INNOV8: This simulation game from IBM is all about business process management.
35. Monopoly Tycoon: In this real estate game, you will buy and rent property, start ventures, and more.
36. Casino Mogul: Play this game to build, manage, and keep afloat the casino of your dreams.
37. TV Station Manager: Make big decisions about ads, air times and TV shows in this game.
38. McDonalds: This flash game will allow you to manage the McDonald’s corporation, controlling important sectors including agriculture and the headquarters.
39. Hotel Giant: Improve your managerial and planning skills in this game that focuses on the hotel industry.
40. The Movies: Play this game to learn how to run a movie business.
41. The Political Machine: This game will teach you about politics, marketing, image, and more.
42. Traffic Giant: The Traffic Giant game will allow you to play as a manager of a public transportation system that runs between various towns.
43. Sally’s Spa: In this game, you’ll operate as a spa owner, performing services and dealing with clients.
44. Tino’s Fruit Stand: Compete against big business with Tino and fill orders for customers.
45. Big Oil: Build an Oil Empire: In this game, you’ll play the role of an oil company owner and work with the market.
46. Airlines 2: Control an airline business including the fleet, routes, and finances in this game.
47. Hot Shot Business: You’ll learn about demand, business and more in this Disney game that simulates six different business models.
48. Diner Dash: In Diner Dash, you’ll wait tables and learn what work is like for the waitstaff at your favorite diner.
49. Hell’s Kitchen: Culinary entrepreneurs can play this game to see how Gordon Ramsay runs his kitchen.
50. The Kitchen: Learn about food preparation, safety, and the culinary business through this game.

By Kelsey Allen

The field of Human Resources is an important one to any company. As the liaison between the employees and upper management, the HR department is often responsible for making sure hiring, communication, relations, motivation, and more are operating smoothly. As with any good business manager or HR professional, you probably want to find out the latest trends, advice, and suggestions for ways to ensure your HR department is working as well as it can. The following blogs offer the wisdom that comes with experience, so take advantage of this opportunity to expand what you know.

General Human Resources Information

From HR directors at large corporations to consultants to companies around the world, these blogs offer advice that can be used by companies of any size.

1. Evil HR Lady. With experience at a Fortune 500 company, the Evil HR Lady takes all sorts of HR questions and answers them on her blog. This is a popular blog for good reason.
2. About.com Human Resources Blog. Read about a variety of topics pertaining to HR in this informative blog that includes posts on employee complaints, effective meetings, and celebrating holidays in the office.
3. TriNet’s HR Blog. Performance anxiety, confidence, performance feedback, and more are all topics discussed on this blog.
4. Talent Junction. For businesses of any size, this blog offers suggestions and tips to help companies prevent and solve HR issues.
5. Guerilla HR. Help the Guerilla HR "stamp out bad management" by reading this fun blog. Advice includes management through understanding, watching your language in the workplace, and motivating those in a slump.
6. Human Resources 101. This HR blog focuses on Human Resources in Canada with topics including employer branding, developing an employee handbook, and safety tips for hiring younger workers.
7. Performance and Talent Management Blog. Writing about how companies can make the most of their employees, this blog pays particular attention to strategic HR.
8. HR Funda. Diversity, salary compensation, employee performance management systems and more are among the subjects of this HR blog.
9. HR and Strategy. From aging to information overload, check out the posts on this blog that discuss issues important to HR departments everywhere.
10. HR Web Cafe. Sponsored by the ESI Employment Assistance Group, this blog offers fantastic topics that will be of use to small businesses or HR departments within large corporations
11. Diggings. While this blog from JobDig focuses on other topics in addition to HR, many of the posts are of interest to those in the HR field and frequently cover job searches, trends in specific fields, and more.
12. KnowHR. A consultant to some of the top companies, this blog from iFractal offers great tips for businesses hoping to straight talk on the subject of HR and ways to improve employee motivation through communication.

For Small and Mid-Sized Businesses

Small and mid-sized businesses have unique needs when it comes to HR issues. Learn from these blogs to find out how to help your business run smoothly.

14. YourHRGuy.com. Discussing such subjects as office politics, bad credit and the job search, and Generation Y, this blog is written by a practicing HR guy working for the past five years in Oregon.
15. EffortlessHR. From dealing with economic downturn to employee references to going green, the posts in this blog are all designed to help the small business person with their HR efforts.
16. The Human Resources Blog. Focusing on the needs of small and mid-sized businesses, this blog addresses such issues as implementing a drug-free workplace, effective time management techniques, and flex time.
17. Chief Happiness Officer. Find out what you can do to make your business the place that inspires workers to do a great job and have fun at the same time with this inspiring blog.
18. Consultant’s Desk. Find topics on communication, outsourcing, conflict of interest, and much more in this blog written by an experienced consultant who shares her knowledge through her blog.
19. Inc.com Human Resources Blog. Especially focused on the needs of entrepreneurs, this blog offers helpful advice on motivating staff, creating handbooks, and more.
20. HRjungle. With a variety of topics that are designed specifically to help the small business person, this blog offers plenty of information, suggestions, and tips.

Blogs for HR Professionals

Good HR professionals like to stay on top of the trends, news, and issues occurring in their field. Read these blogs to do just that.

21. HRTrainingCenter.com. Enjoy articles on topics such as negotiating workplace conflicts, hiring tests, and workplace taboos from this blog.
22. The HR Blog. Find news and fun articles that contribute to the life of an HR professional in this blog from BostonWorks.
23. The HR Capitalist. Participate in this blog by reading the articles and commenting. Meant to be a community effort, the posts here are timely and relevant to those in the HR field.
24. HR Resource for HR Professionals and Trainers. Find links, resources, and more at this blog designed just for HR professionals.
25. HR Thoughts. This HR Director at a medical center shares her experience and looks for response from readers to share theirs on the topics in her blog.
26. Human Resources Executive Search. Read these blog posts to learn how you can find and hire the best professionals for your company.
27. HRIM Mall. Get articles, news, job postings, tools, and more to help your department succeed in HR management with this resource.
28. Breaking Human Resource News. Get all the latest news designed specifically for professionals in the field of HR.
29. Green & White HR & Mgmt. The topics in this blog are excellent discussion points for those in the HR field. Join in a chat with others reading the same articles right on the blog page.
30. HR-Ambience. Though the posts have slowed on this blog, it is worth reading for the thought-provoking articles that deal with HR professional issues.
31. HR View. Use the blog posts here as starting points for discussion or thought when considering the dynamics of your department and company.
32. Human Resource Blog. This blog works for a community feel with a sharing of knowledge between HR professionals. Discuss topics such as unused vacation time, vacation policies by state, and if meals are required to be provided by employers.

Other HR Resources

From ideas outside the normal HR box to HR situations that don’t fit with the rest to topics just a bit different from the norm, these blogs are HR in focus, but with that little extra twist.

33. Seasonal Human Resources Blog. From Cool Works, this blog reports on networking, recruiting, and other HR topics important to both seasonal employers and those requiring less change-over.
34. Slow Leadership. The idea behind this organization is that management should slow down and think through decisions rather than reacting to situations. The blog includes topics from connecting vs. relating to thinking through why you feel you must be right.
35. Zealize Blog. The goal of this blogger is to put the "human" back into HR with companies tapping into the resources available in their employees.
36. Hidden Mojo. Find the potential hidden among your employees with the suggestions offered in this blog with tips for motivation, helping employees accept decisions they didn’t make, ways to make the workplace happier, and more.
37. HR Lawyers Blog. Writing about the legal issues surrounding HR, this blog offers news bits and advice for business people, those in the HR field, and HR lawyers.
38. Strategic HR Lawyer. This blog from an HR lawyer is both a news and information aggregator with relevant links to information that pertains to HR and the law.
39. Dr. Mercer’s Pre-Employment Testing & Hiring Expert Blog. Learn what you need to know about pre-employment testing and hiring strategies to ensure you are getting the best employees possible.
40. Past Five. Offering career advice and more, this blog is all about workplace and career development both during office hours and afterward.
41. Beyond HR. Reaching beyond the typical HR scope, this blog highlights HR issues and offers solutions in a "revolutionary" way.
42. Gruntled Employees. Prevent your employees becoming disgruntled with the tips available at this blog focused on keeping the workforce happy.

Recruitment Blogs

It’s own special section of HR, recruiting is an important element to finding the best employees for a company. These blogs will help recruiters, employers, students and job-seekers alike.

43. Cheezhead. This popular recruitment blog offers a main course of recruitment issues with a nice side dish of other HR topics.
44. Recruiting Fly. From applicant tracking systems to specific corporate job opportunities, this blog covers the latest news in recruiting.
45. Magic Pot of Jobs. These IT recruiters have put together a blog to help job searchers know what steps to take to give themselves the best advantage when it comes to landing the interview and the job.
46. Recruiting Animal. This collaborative blog, an extension of The Recruiting Animal Show, offers posts with timely topics that relate to the world of recruiting.
47. Amitai Givertz’s Recruitomatic Blog. This recruiting specialist shares his expertise through original blog posts including topics offering recruiting help as well as news about the recruiting industry.
48. Research Goddess. Get the latest news from the recruitment world brought to you in the posts at this blog.
49. A Recruiter Diary. This IT recruiter shares his knowledge with news and tips collected from several sources.
50. Recruiter Guy Blog. Stay on top of recruiting trends with information about what recruiters are using and what job-seekers find helpful with this fun and flashy blog.

If you’re in business, you almost surely have some sort of competition to keep tabs on. And in this day and age, you can bet that there’s some information to be found about your competition online. By making use of these resources, you can keep an eye on what your competition is up to.

Finders

Use these tools to identify your competition.

1. Competition Finder Tool: Search Engine Genie’s tool will help you locate websites that compete with yours and allows you to compare them.
2. Google Alerts: Set up a Google Alert for your targeted keywords and find out whenever anyone publishes a new site or information relating to your query.
3. Related Link Suggestion Tool: SEO Book’s tool will help you find competitors by keyword.

Domain & Hosting Information

With these tools, you can get the dirt on your business competition’s domain and hosting service.

4. Whois: You can find a lot of information about your competitor using Whois, which supplies contact and location information where available.
5. Who is Hosting This?: Get the lowdown on your competitor’s hosting company by making use of this tool.
6. Domain History: Using this tool, you can find out who has owned a specific domain, who they bought it from, and how long they’ve owned it.
7. IP Domains: This tool will show you other domains that are hosted along with your competitor’s, and may help you discover projects and websites that they are working on.
8. Mark Alert: Make use of this tool, and you’ll be able to find out whenever a domain name using your trademark is registered.

Company Information

Get the dirt on your competition’s important filings, legal issues, and more.

9. EDGAR: The Security and Exchange Commission’s database will help you find company filings on your competitors.
10. Better Business Bureau: Find out what customers are saying about your competition by checking with the Better Business Bureau.
11. Yahoo! Finance: You can get plenty of information about publicly traded companies using finance sites like Yahoo!’s.
12. Hoover’s: Another excellent source of information on publicly traded companies is Hoover’s. The site sometimes offers information for privately held firms as well.
13. Company Profile Report: Dun & Bradstreet’s information tool can help you locate sales, contacts, and more.
14. Trademark Electronic Search System: Look for any trademarks your competitor has filed by using this tool.
15. KnowX: You can find out if your competitor is involved in any legal battles by searching records with KnowX.
16. Patent Electronic Business Center: Get a look at your competitor’s published patent applications with this tool.

On Their Website

You can find out a lot about your competition by just checking out their website, sometimes with the help of tools.

17. Source code: Read the source code behind your competitor’s website, and you can learn about their meta tag keywords and more.
18. SpyderMate: Use SpyderMate to crawl your competitor’s site and find the strengths and weaknesses of what they offer.
19. Robots.txt: Take a look at your competitor’s robots.txt file (generally located at www.yourcompetitor.com/robots.txt) to find out what they’re hiding from search engines.
20. Their blog: You can subscribe to and read your competitor’s blog to see what they’re up to.

Search Engine Tools

Use these search engine tools to find dirt on your competition.

21. Google Trends: You can check out a website’s traffic estimates, related websites, visitor countries, and more using Google Trends.
22. MarketLeap: Find out your competitor’s search engine saturation and history by using this tool.
23. IndexRank: This tool will help you find out how well you’re getting indexed on Google compared to your competitors.
24. URLTrends: Find out which keywords your competitor’s site ranks for using this tool.
25. Incoming links: Search for your competitors’ incoming links by visiting link:yourcompetition.com.
26. SearchRascal: Find the top rankings for a set of keywords on Google and other search engines, and find out how they have changed over time.
27. Search Status: Get highlighted nofollow links, PageRank, Alexa rank and more in your search results with this tool.
28. SEODigger: Using this tool, you can find out which keywords a site ranks for.
29. SEO for Firefox: This tool will inject competitive information into Google and Yahoo! search results, including PageRank, ages, links, traffic, ranking, and more.
30. Google Search Insights: You can check out keyword trends and more using this tool from Google.

Strength, Traffic & Ranking

Keep your business going strong and evaluate your competition’s website strength with these web tools.

31. SEOMoz Page Strength Tool: Find out how strong a page is based on links, age, and other factors with this tool.
32. Xinu: Check out backlinks, ranking, del.icio.us bookmarks and more with this tool.
33. SEO Analysis Tool: See how a spider sees a website to find your competitor’s weaknesses and strengths.
34. Website Grader: Find out how your competitor’s website scores for marketing effectiveness.
35. Alexa: You can determine your competitor’s traffic and ranking with this site. While you’re there, you can check out related sites to find even more competitors.
36. Statbrain: This tool will use a number of different sources to estimate a site’s visitor level.
37. Statsaholic: Get the lowdown on ranking, pageviews, and more using Statsaholic.
38. Quantcast: Find out what your competitor’s demographic trends and details are using Quantcast.
39. Compete: You can compare sites head to head and see how you stack up to your competition with Compete.

Keywords

Find out which keywords your competitors are targeting and finding success from by using these resources.

40. SEMPhonic: SEMPhonic will track your keyword rankings and give you the dirt on what your competitors are doing with those keywords.
41. KeyCompete: Find out which keywords your competitors are buying by using this tool.
42. SpyFu: SpyFu shows you which terms your competitors are buying and ranking for.
43. KeywordSpy: Find cached ad copy, affiliate data, and more useful keyword information about your competitors with KeywordSpy.
44. Trellian Competitive Intelligence: With Trellian’s tool, you can get a look at keywords your competitors are getting traffic for.

Changes

Keep up with the latest changes from your competitors with these tools.

45. RSS: Use any RSS tool to subscribe to your competitor’s feed and be alerted to any changes on their website or blog.
46. Archive.org: Look through the history of a website and see how the domain has changed over its lifetime.
47. CodeMonitor: This tool will take a snapshot of code on your competitor’s page and notify you when a change has been made.

Links

Use these web tools to stay on top of your competition’s link strategy.

48. Link Popularity Comparison Tool: Find out how popular your links are in comparison to your competitor’s.
49. Backlink Checker: Use Backlink Checker to find out who is sharing links with your competitors.
50. Link Harvester: Take a look at your competitor’s backlinks using this tool.

China has emerged as an amazing economic power that brings plenty of opportunities for entrepreneurs and business people alike from outside China. If you plan to do business in China, there are several areas you should study prior to launching your business venture. The following resources include journals and newspapers, informative articles, blogs and podcasts, and free classes to help you learn about international business, Chinese culture, and even how to speak Chinese. Take advantage of these resources to get the best start possible on your business relationship in China.

Business Journals and Newspapers

Stay on top of all the news that affects business in China with these journals and newspapers.

1. The China Business Network. Learn about advertising, technology, cultural business strategies, and more as well as read interviews from important business people in this online journal.
2. China Success Stories. Take advantage of the experience of those who have gone before you and learn what these business people did to create a successful business venture in China.
3. China Economic Review. Stay on top of the economy in China with this journal.
4. The China Business Review. Find out about the supply chain, exporting, environmental issues, and more in this journal.
5. China Business Info Center. Read the latest news and headlines that pertain to doing business in China here.
6. Asia Times Online Greater China Business. Get all the news happening in China that may affect business there.
7. China Stocks, Companies, and Industry Analysis. Learn about the news that relates to stocks in China from this source.
8. China Briefing. Publishing in China since 1999, this business news publication offers news and information about doing business in China.
9. China Digital Times. The site sponsored by the Berkeley China Internet Project brings news stories about business, tech, and more coming out of China.
10. Wall Street Journal China Journal. Learn about Chinese business, economy, and culture with the reports from this respected news source.
11. China Business Market News. Get free articles on Chinese economy, investments, retail, pharmaceutical, technology, and more.
12. China Business News. Interfax China provides news that touches on telecommunications, metals, energy, commodities, and more.

Organizations

Being connected with other business people can be important to the success of your business venture. From business associations to sustainable development groups, these organizations will help you make important connections.

13. The US-China Business Council. This non-profit organization exists to support and maintain positive US-Chinese trade practices.
14. American China International Business Association. Working to develop successful business relationships, this non-profit organization works closely with government and businesses in China.
15. The American Chamber of Commerce in the People’s Republic of China. This non-profit organization works to provide solid business practices for its members.
16. Committee of 100. This group of American citizens with Chinese backgrounds has worked to secure important and respected positions in the community and work to better US-Chinese relations as well as provide a forum for specific issues faced by Chinese-Americans.
17. The 48 Group Club. This independent business network, with a heavy British presence, serves to promote good relations with China.
18. China Council for The Promotion of International Trade. Working to promote foreign trade, investment, and technologies, this group strives to create strong working relationships between China and foreign countries.
19. China Business Council for Sustainable Development. This organization of Chinese and foreign businesses work together to create sustainable development in an effort to promote environment health safety and social responsibility.
20. International Chamber of Commerce. This international business group works to strengthen the world economy, job growth, and overall prosperity in a global environment.
21. Business for Social Responsibility. This global network of businesses work together to create sustainable business practices. This organization also has a Chinese counterpart.
22. Transparency International. With a chapter of this organization in China, this politically non-partisan group works to end corruption in both public and private sectors around the world.

Articles

From learning what to do or not to do when conducting business in China to the importance of being in business groups, these articles will inform you on the best business practices in China.

23. 7 Deadly Perceptions About Doing Business with China. Don’t fall victim to these misperceptions and you will be on the way to a successful business partnership.
24. China Tries to Solve Its Brand X Blues. This article offers insight to the importance of branding in China and the struggles currently faced by companies there.
25. 7 Secrets to Business Success in China. These simple yet effective suggestions will have you starting off on a promising venture in China.
26. Starting a Business in China. Discover the procedures and costs involved with setting up a business in China with this table provided by Doing Business.
27. Business China. This interview with a European businessman working in China for 16 years provides insight to what it is like to do business in China.
28. Business Groups in China: Is Qiyejituan Membership a Guaranteed Advantage?. This article from the W.P. Carey School of Business explores the role of business groups to the success of firms in China.
29. ‘Quality Fade’: China’s Great Business Challenge. Take a look at one popular theory as to why the quality of Chinese goods has deteriorated and how they can improve.
30. Business Travel in China. Learn invaluable tips from meals to dress code to business card etiquette to use while on business in China.
31. Why China Won’t Come to the Rescue. Looking at the recent financial history between China and New York, this article explains an important reason why China may not help America’s financial crisis.
32. Tips on Doing Business in China and China Sourcing. While this article is intended as a sales tool to use this company’s services, it nevertheless provides valuable information on doing business in China.
33. Inside the War Against China’s Blogs. This Business Week article describes the power of blogs when it comes to businesses and their practices in China.
34. Rough Guide to Outsourcing in China. Read this businessman’s journal documenting his experience while in China to visit suppliers. After the article, scroll down for tips on finding a supplier in China and survival tips while traveling in China.
35. 10 Best-Kept Secrets to Selling in China Successfully. Two experts in Chinese business offer suggestions for successful business relations in China.

Government, Legal, and Non-Profit Resources

These resources range from governmental websites about exporting to China to Chinese laws to a database of important Chinese leaders.

36. China Business Information Center. Learn all about exporting to China with this resource from Export.Gov.
37. China Business Intelligence. This site from The American Chamber of Commerce in the People’s Republic of China offers links to other sites ranging from legal issues to tax issues to human resources.
38. China International Economic and Trade Arbitration Commission. Find arbitration rules and news pertaining to arbitration at this site.
39. China Stands Up. This series from Project Syndicate examines China’s impact on world trade and the global environment.
40. Foreign Trade Law of the People’s Republic of China. With this resource, you will ensure you understand the laws in China regarding foreign trade.
41. Securities Law of the People’s Republic of China. Having a business in China may mean you become involved with investors, public stock in your business, or other securities issues. Know the Chinese law before you begin.
42. China Commodity Net. Find Chinese suppliers with international certification or browse by location within China or product name to find suppliers at this government site.
43. China Data Center. From the University of Michigan, this site offers statistics on China including information on census, agriculture, economics, and more.
44. China Watch. A part of World Watch, this organization monitors safety, health, and environmental issues in China as they pertain to policy-makers, businesses, and non-governmental agencies.
45. China Vitae. This site keeps information on over 3000 Chinese leaders from several sectors including government, politics, business, education, and the military.
46. Global Institute of Logistics China Report. This organization works to connect academia with the business world, and this page is devoted to business in China.
47. Business Library 2.0: Doing Business in China. These links provided by the University of Florida offer articles, advice, and resources for doing business in China.

Blogs

Blogs hold an important place in the business culture in China. Follow these blogs to learn what you need to know and help you become a part of the Chinese business community.

48. Asiabizblog. Learn about the latest news about doing business in China with this blog that is updated twice weekly.
49. ChinaSolved Blog. The blog at this site offers great advice to help you improve your business relations with your Chinese counterparts.
50. China Business Blog. From the financial markets to trade surplus, learn what is affecting businesses in China at this blog.
51. China Business SEO Marketing Guide. Find out how to boost your online presence for your business in China with the advice on this blog.
52. All Roads Lead to China. Get a better understanding of China through the posts offering strategic insight and advice on this blog.
53. Business and Finance on Danwei. From Chinese labor laws to technology policies in Asia, learn about the details of doing business in China here.
54. Best Practices China Blog. This blog offers "international business skills for China’s professionals" with advice and suggestions to improve your business relationships.
55. China Business Law Blog. Written by a Chinese man attending law school in Texas, this blog offers insight and news analysis of China and business law.
56. China Environmental Law. Keep up-to-date with Chinese environmental and energy laws and policies with this blog written by an international lawyer in China.
57. China Financial Markets. Written by a business professor in China, this blog offers important information about the financial markets.
58. Experience Not Logic. This blog states its purpose to "explore the business and legal culture of China."

Videos and Podcasts

These videos and podcasts can help you stay on top of the news, culture, and even learning the language in China.

59. ChinaOnTV Business Videos. Watch video clips featuring business news from China at this site.
60. China Business Blog and Podcast. Listen to podcasts from this consulting firm offering information on doing business in China.
61. China Talk Radio. Get podcasts here that deliver speeches from some of the top business people working in China.
62. The China Business Show. These podcasts bring interviews from experts in the fields of advertising, business culture, entrepreneurship, and much more.
63. ChinesePod. Learn Chinese with these podcasts. One week is free, but then you will need to pay to continue the service.
64. Interview with Jill Buck, Founder of the Go Green Initiative. Listen to this podcast to learn about this organization and how it is working with China.
65. The Cool Aid . Listen to podcasts from bizCult about living and doing business in China from this site.
66. Danwei FM. Get podcasts from one of the most popular China blogs on the Internet.
67. Marketplace from American Public Radio. The Asia section covers all of Asia, but has a preponderance of podcasts on China.
68. Peace Corps Language Lessons. Get Mandarin lessons on podcast from the Peace Corps here.
69. CSLPod. These podcasts are intended for those learning Chinese as a second language.

International Business Schools

The business schools in China have gained a reputation as some of the best in the world. If you plan to pursue your MBA in China, check out these schools.

70. China Europe International Business School. Earn an MBA at this school located in China run exclusively for business people operating in or moving to China.
71. University of International Business and Economics. The first institute of higher learning for Chinese international business, this business school enjoys an excellent reputation as a leader in business education.
72. Cheung Kong Graduate School of Business. The first non-profit business school in China, this school not only attracts top educators, it also promotes a strong sense of social justice in its education.

Free International Business and Politics Classes

Whether you already have an MBA or are just gaining more knowledge about doing business in China, these free classes will help you understand the economic, political, and business culture in China.

73. International Trade. Study current topics of international trade to determine the flow of goods across borders and what determines the flow of savings and investments between countries.
74. International Economics. Learn the basics in trade theory, policy, and international finance in this class.
75. International Economics I. This graduate level class from MIT explores the field of international trade and foreign investment.
76. FT Business School Growing Business Opportunities in China. From Financial Times, this course offers videos, online Q&As, and more to help you learn about doing business with China.
77. Global Markets, National Politics and the Competitive Advantage of Firms. Study the risks and opportunities available to businesses operating in a global markets.
78. Global Entrepreneurship Lab. Learn about the challenges faced by entrepreneurs in the global world of business in this lab class.
79. Global Strategy and Organization. This course teaches business owners and managers how to lay the foundation for a successful company in international business.
80. International Relations. This introductory course strives to teach students the basics of international relations including idealism and realism.
81. International Relations of East Asia. Explore western relations with East Asia both before and after the Cold War and examine how this history has shaped current relations.
82. International Environmental Negotiation. Learn how to successfully negotiate for sustainability when working internationally in this graduate level course.
83. Government and Politics of China. Examine pre-Communist and Communist China to discover how the current political system has developed.
84. Comparative Politics and China. Study contemporary Chinese politics and relate them to the wider field of comparative politics in this graduate class.
85. Analyzing & Accounting for Regional Economic Change. Learn about factors within regions that affect economic growth and development in a global economy.

Language Classes

Doing business in China means you will probably need to speak some of the language. These university courses are all free and will have you speaking Mandarin before you know it.

86. Chinese I. Learn the basics of Mandarin with these lessons specially created for open courseware. This is the first in a series of four classes.
87. Chinese II. The second course of the series, this class focuses on conversation, reading, and the structure of the Chinese written language system.
88. Chinese III. In the third section of this series, this class builds upon what was learned in the prior classes to strengthen conversation and writing skills.
89. Chinese IV. Continue your lessons in the final course of the series while focusing on strengthening your reading skills and gaining confidence with the spoken word.
90. Chinese V: Chinese Cultures and Society. This course combines text lessons with real-life explorations of Chinese culture.
91. Chinese VI: Discovering Chinese Cultures and Society. Sharpen the sophistication of your written and oral Mandarin in this course that explores various real-life resources to further your studies. Conducted in Mandarin only.

Culture Classes

Before you begin doing business in China, you should get an understanding of the culture there. These free classes will enlighten and educate you in the ways of the East.

92. Chinese Foreign Policy. Learn the history of Chinese policy from the Cold War era to present day with this class offered through MIT.
93. Traditional Chinese Literature: Poetry, Fiction, and Drama. Learn about the major Chinese genres in traditional literature in this class.
94. Cultural Performances of Asia. Examine the way traditional and present-day performances in Asia communicate culture in this class that utilizes text, video, audio, and online materials to teach the subject.
95. Smashing the Iron Rice Bowl: Chinese East Asia. Follows the lives of ordinary Chinese citizens as they experience enormous changes of 19th and 20th centuries in this course.
96. Race and Gender in Asian America. Explore the Asian American experience so that you can better understand the intersection of traditional Asia and America in your business practices.
97. Working in a Global Economy. Find out about practice and policy of doing business in a global economy.
98. Communicating Across Cultures. Learn how to bridge culture gaps in this class that focuses on communication issues.
99. East Asia in the World. Study the history of East Asia, most specifically China and Japan, and their relationships within East Asia and abroad.
100. Introducing Regional Integration. From the United Nations University, this course teaches about integrating regions both across countries and within countries.

The old adage, “a happy employee is a productive employee” has been proven to be true time and time again. Looking at many of the most successful companies today, many of them have a wide variety of ways they keep there employees happy and working. While it’s true that raising wages will always make employees happy, there are several other things you can do to ensure their happiness. These things will also probably be significantly cheaper than an across-the-board wage hike.

1. Flexible Hours – All businesses are different, and some are much easier to allow flexible scheduling than others. However, simply making any effort can have positive results. Employees have lives outside the workplace, and sometimes issues with children come up, family emergencies, or simply needing a nice vacation. Allowing employees to have some flexibility is a great way to keep them happy. If a employee asks to leave work early to pick up their child from school, letting them go, and having them make up the time later (if you so desire) is much more effective in terms of employee happiness.

2. Casual Fridays and Other Themes – Businesses have many different kinds of dress codes. Some are strict, and business formal, while others lean towards business casual. No employee likes wearing a suit and tie every day, so allowing employees specific days of the week to “dress down,” is a great way to keep them happy. Making the dress-down day theme oriented can also produce great results (usually, something more inventive than a simple Hawaiian shirt day will have better results). Potential ideas include, sports teams, colleges, wear your favorite sweater, and so on.

3.  Coffee and Tea for Everyone – It’s no secret that a little caffeine can do wonders in terms of motivating an employee. It’s often difficult to complete tasks if you are run-down, or otherwise simply very tired. Giving employees a high quality coffee-machine, with a variety of options (including tea, for those who don’t like coffee), is a wonderful decision. In terms of cost, it won’t be as much as raising wages, but it will certainly help motivate some employees to keep working away. There will always be those who disagree, but in my experience, half of the office would be asleep before lunchtime without some coffee or tea.

4. Family Events – Employees like to take their families to work-related events. It’s a great way for them to build new relationships, and just have a good time outside of the traditional workplace. “Family Days,” as they are sometimes called, can be tremendous for employee motivation. Serving good food, maybe some beer, having fun games, and generally making a great experience at a family event is fantastic from an employee-motivational standpoint.

5. Company-wide Competitions – Competition is the mother of productivity. If you can come up with a great competition, with a great reward, you just might find that your employees really get into it. It depends on your industry, but one example would be a sales competition for a sales company. Other competitions can involve things outside of the work place, such as fitness competitions.

6. Child Care Facilities – Sometimes things happen, and employees will need to bring their children to work. If you don’t have anything that could be used as a childcare facility, you risk unhappy employees who will be forced to jump through hoops in order to take care of their kids in difficult situations. Google allows their employees to, in an emergency, bring their kids into work, and Google has nice toys (such as legos) for kids to entertain themselves. If you don’t provide emergency child care for employees, then they may have to start their own daycare business, and that wouldn’t make anybody happy (unless you really like kids).

7. Nice Office Supplies – This may seem funny, but consider it. I don’t know how many employees have complained over the years about a lack of office supplies, but it’s a large number. Employees need supplies to do their work. So having nice post-its, pens, and paper readily available is a must if you’re going to be keeping your employees smiling and working.

8. Parties – Who doesn’t love a good party? In my experience, some of the happiest employees are those who are celebrating a coworker’s birthday and eating some cake. If you are diligent and get everyone in the workplace’s birthdays written down, then you might just see happier employees. The gesture will look great on you as a boss, and it will keep employees being social and happy. Remember to change the cakes though, people like variety. Also, don’t ever cancel the office Christmas Party, it’s the most exciting one of the year.

9. Friendly IT personnel – IT is the bane of the existence of many employees in companies all over the world. There’s nothing more angering and frustrating then coming into work, only to find that your computer is malfunctioning which prevents you from doing your work. Having a friendly, well-staffed, IT department can do wonders for employee happiness. IT people should want to help employees. In fact, at a company like Google, they provide their employees with an opportunity to play video games while they wait for their computer to be serviced. Having this won’t just improve employee happiness; it will also probably improve productivity, as there will be less down time due to computer issues.

10. Delicious Food – If there’s one thing workers really care about, it’s food. Recently, my friends’ work place changed their kitchen manager. The food now apparently “sucks,” which has lead to my friend being unhappy, as well as many of his coworkers. How can employees work hard and be happy if they have empty stomachs, or view the cafeteria food as awful? If the food is delicious and healthy, then employees will be much more well fed and therefore happier. Once again, at Google, employees have access to more food than anyone would ever need. Their employees are ecstatic when it comes to their work, and I think it has a great deal to do with how full their bellies are at the end of the day.

11. Decorations and Windows – There’s nothing more depressing than a dark office with very little windows and seemingly endless rows of cubicles. Employees don’t want to feel as if they are working in a sweatshop. Adding color to the workspace, paintings, and making sure that it is well lit with ample windows can do wonders in terms of employee morale. You don’t have to do a full-scale remodeling, but investing in some artwork and color for your office can have a tremendously positive affect.

12. Be Open to Suggestions – If there’s one thing that people like to do, it’s voice their opinion. Being open to suggestions is one of the simplest and most-effective ways to keep employees happy. If employees feel that their opinion is valued, and if they see some of their suggestions implemented, then they will be much happier. The improvements could also turn out to be really great for your business. After all, two heads are better than one, so if you have all your employees thinking and making suggestions for improvements, then that’s a very positive sign.

Businesses should always be concerned with how happy their employees are. A happy employee will work harder, be more social, and will simply be better for the business than an unhappy employee would be. While raising wages is the quick and easy fix, in the long term, it’s better to focus on a variety of elements to help make employees happier and enjoy their work more. If you take any of these suggestions, I’m sure at least one employee will come into work with a smile on hides or her face every day.

With all the drama over John McCain’s VP pick, Sarah Palin, many business owners and executives alike are wondering how it could possibly affect their business. Sarah Palin prides herself on being a Maverick and going against the grain. In terms of CEOs with huge corporate salaries, this could spell trouble. However, it’s also important to look at McCain’s plans, which Palin will naturally, fully support. While Palin may do some good things for business, there could be a lot of far reaching consequences that hurt businesses. Without further introduction, here are 6 reasons Sarah Palin will be bad for your business.

1. Healthcare – John McCain has a plan to put $5,000 American dollars in the pockets of every person in America for healthcare. On the surface, this seems like a phenomenal plan. However, a closer look shows that it may actually hurt some small businesses. If every person is given money to choose their own healthcare plan, then it will be substantially more difficult for smaller businesses to choose a healthcare plan that every employee is happy with. If workers have this credit, and depending on how things work with healthcare companies, businesses may lose certain discounts from providers as employees go outside the workplace for their healthcare plans.

2. Drill baby, drill – The energy crisis is extremely important. There are debates concerning which is the best way to address the issue. Sarah Palin, coming from Alaska, has a huge interest in energy investments. Specifically, Sarah Palin wants to drill, while being environmentally safe about it. This can have a negative affect on businesses as drilling will be extremely expensive and could lead to increased taxes. Additionally, there is uncertainty about how much oil will actually be found in Alaska. Some wonder if the costs will outweigh the benefits, considering the amount of oil Americans use in a given day. The difference is not likely to be made up simply by drilling in Alaska.

3. Eliminating huge corporate salaries – It’s not yet quite clear what the Palin/McCain administration would do about the ever-increasing salaries of CEOs, and of those persons on Wall Street. However, Palin has been steadfast in her commitment to being a Maverick like McCain. With this in mind, one can assume that Palin will want to change the way Wall Street and Businesses are run. This could make things significantly more difficult for executives who may be used to a variety of financial breaks that may not exist under a McCain administration. Republicans have long been stalwarts in defending the trickle down affect. However, with economic turmoil comes a change in philosophy. Less money at the top may not hurt the overall business, but could certainly hurt individuals.

4. An Alaskan Focus – Sarah Palin has been a champion of Alaska. While a very important state, it’s not exactly the business center that states like California and New York are. Sarah Palin has promised to bring her small-town philosophy to big government. What this could mean is that your business will get less attention. With the war in Iraq, which McCain will certainly focus on, and Palin’s commitment to energy, some wonder when they will take a good look at the state of small and large businesses in the union. This could mean that many businesses that are having difficult times may not get any government help in the future.

5. Inexperience and the economy – It’s no secret that many people see Sarah Palin as being unqualified for the position of Vice President. With the tough economic challenges that lie ahead, and the bailout looming, someone with very little experience in big government may have more difficulties when making decisions. Of course, McCain will surround himself with persons who are well versed in economics, but the second in command may be in over her head at least for a little. Not much is known how this may affect businesses, but the outlook isn’t exactly positive.

6. The War in Iraq – Contrary to what Obama has stated, the McCain/Palin administration will be much more committed to finishing the war in Iraq. Obama wants to withdraw troops and give the Iraqi government a timetable. McCain and Palin both see this as a mistake in philosophy. No matter how you phrase it, staying in Iraq will cost billions of taxpayer dollars. That will be less money available to put back into the economy, to help struggling business, and to deal with the financial crisis. In terms of your business, that means that loans will still be very difficult to get. Palin wants to focus on issues abroad. Since there are many issues at home, this means that there could be a financial conflict when it comes to where the money goes. It could go to help start-up businesses or those in serious debt, or to finance more troops. Most online business degree holders and business owners probably want the money to go to the former.

Sarah Palin may not be entirely bad for your business. But with the echoes of change coming to Washington no matter who you vote for, the outlook is a bit grim. John McCain has the potential to be the oldest elected first-term president ever. With concerns about his health, a Sarah Palin presidency could be a reality. With her never being on capital hill, it could be quite challenging. Either way, businesses will have to focus on their bottom lines and prepare for sweeping changes. McCain and Palin are Mavericks, while Biden and Obama discuss change. This means that no matter what, things are going to be different for the next four years.
 

There has been a significant amount of discussion over the bailout in recent weeks. Many people wonder what it will mean for the economy, and especially what it will mean for businesses (specifically, the small businesses). The fact remains that while the bailout, in theory, should help to keep financial markets stable (and it seems it’s having a tough time doing that), the fact that the government will now have stake in huge lending institutions is not good news for many business owners. With this in mind, I’ve come up with several reasons why the bailout will hurt your business.

1. Taxes – Yes, the government has said that the bailout won’t raise taxes on the middle class, but I haven’t seen ANY mention of businesses in their discussion. If the government is going to take an even more active role in the US economy, and businesses specifically, then the money is going to have to come from somewhere. Obama has even stated that he plans on taxing the wealthy, which could have an effect on the big CEOs and corporations. Small businesses should remain relatively safe from any tax hikes as a result of this bailout, but you never know.

2. Consumer confidence – It seems that even though the bailout was passed, consumer confidence has been shaken to the core. If your business deals in any luxury service, or any type of non-essential product, then you could see your profit margins start to shrink. In tough economic times, it is a fact that across all socio-economic classes, spending is severely cut back. This bailout, while trying to avoid this fate, seems to have exacerbated the problem because of many person’s uncertainty in regards to government holding stake in financial institutions.

3. Stock market woes – If you’ve had a pulse the last few days, or been living anywhere with a radio or TV, then you know the stock market has been falling like crazy. This hasn’t been in direct response to the bailout (although it was when the bailout was defeated the first time it was voted on in congress), but it has been showing that either the bailout is completely ineffective, or it just made things worse. Essentially, I believe it’s a mix of both. The bailout is, in effect, the governments “OH NO,” panic button response to impending financial crisis. As a result of the government panicking, investors, consumers, and other lenders are panicking. The stock market lowering significantly has affected many businesses, not to mention the other issues brought about by a frightened market.

4. Government influence – We have started to abandon traditional American, laissez-faire, economic policies. While this could be either positive, negative, or a mix of both, remains to be seen. The fact remains, however, that there are definite downsides to increased government involvement in traditionally free markets. If the government is now holding stake in financial lending institutions, does it not mean that when a small business, or any business, goes for a loan that the government has to evaluate them? It’s not hard to argue that the government’s ideas for what is a reasonable loan, or a reasonable business may differ from those of traditional banks. This could result in more difficulties for businesses in certain industries.

5. Increased legislation – Spring-boarding off of government involvement, there will no doubt be increased legislation about all things financial. Many believe that the bailout is merely the tip of the iceberg in terms of a governmental overhaul of the way banks and markets function within the US. The government could pass legislation that, in effect, will place more stringent requirements on loans. While this is good, because look what happens when there is very little regulation, it could also be very bad. Many start-up businesses are extremely high-risk ventures. However, these ventures also have high returns and are often some of the best success stories. Imagine if Google needed a loan to start their business and was unable to get one. That would certainly be one less extremely successful American business in the market.

6. Political upheaval – This bailout has been the cause of a significant amount of unrest among ordinary citizens. One of my friends works for a senator and had to listen to hundreds and hundreds of calls from constituents who opposed the bailout idea. Since it has passed, there are several politicians who will be up for re-election and may see their poll numbers drop as a result of how they voted. In essence, the bailout has set the stage for a variety of other candidates to have a better chance for election simply because of citizen displeasure with the bailout. What this means for your business is that there will be new politicians, who may have different goals for the community, coming into office. This, again, could be positive or negative in terms of business outcome. However, there’s no denying that any time there’s a political shake-up, some business will always get the short end of the stick.

7. Fewer research dollars available – Businesses that are based on grants and investors are sure to be hit hard by this bailout. The government has just taken on a 700 Billion Dollar money sink, and will now have significantly less money to offer out to businesses researching alternative fuels, new technologies, educational practices, or any other type of area that requires significant financial backing. As investors have become much more cautious, traditional funding may be scaled back significantly. Once again, while the bailout has not specifically made these lending issues, it has done nothing to build confidence.

8. The presidential race – There is no doubt that the bailout, and tough economic times have had an enormous impact on the presidential race. Depending on your opinions, this could be extremely negative. While many business owners do believe in Obama, others feel more comfortable with McCain. Essentially, if you are a fan of McCain’s policies, then the bailout will certainly hurt you because it has effectively given Obama his lead in several key swing states. Without sounding like a broken record, it remains to be seen if this presidential race will yield an extremely positive change for the country, or a negative change for the country.

9. Wage issues – I noticed this past summer when gas prices where climbing ever higher, how it affected every aspect of business. My friend’s maid had to ask for more money per week because the gas prices were straining her ability to make the same amount of profit running her private service. In this same way, with these tough economic times, the government now holding stake in financial institutions more so than ever before, and the difficulty of obtaining loans, you may be faced with employees and potential applicants who simply want to be paid more. Increased wages, when coupled with any business that may be struggling, can do nothing but hurt profit margins. Wage issues often lead to job losses.

10. The credit crunch – The bailout itself didn’t cause the credit crunch, but it hasn’t really helped anything either. The fact remains that anything you want to do within your business will be significantly more difficult if you don’t have the funds up front to support it. If trends continue, a lot of businesses (both small, and large corporations) will see profits dwindle, and will have significant issues expanding without any capital to do so.

The Future (It’s Not All Bad)

This has been a mostly negative post, but there is hope for the future. In recent years, all we seem to hear about is potential economic recession. However, historically, we have had fewer ACTUAL recessions in the last twenty years than back in before the 1980s. The bailout still has time to prove to be the correct decision. Stock markets can certainly rebound, and there’s always hope of great business success stories like Facebook and Google. Hopefully, investors and lenders have learned their lesson about ventures that are too risky, without being completely afraid of ever taking a chance on anything. The best way to prepare your business is to think about your customers. While luxury goods will become less demanded, the essentials will still be needed, but at better prices. Companies like Wal-Mart shine in tough economic times. It should be the goal of many business owners to come up with great ideas on how to capture some of that market. America was founded on the backs of freethinkers and entrepreneurs. I see no reason why America won’t continue to prosper as long as those people exist in business.