Seeking Your Help
In the last Bucks County Economic Development Corporation e-newsletter, we introduced a discussion around the problems that a small business owner faces with compressed margins due to global technology. In a summary, these barriers were:
- Today’s customers now find new suppliers through internet key word searches
- Requests for quote are simultaneously sent to multiple potential suppliers without regard for geographic location or previous history
- Prototypes are generated by Cad-Cam software and 3-D printers
- Supply chain members are integrated digitally, therefore, easily replaceable and monitored
The results of these changes mean that business looking for new customers must be prepared to make:
- Pricing concessions (often multiple times before getting an order)
- Find additional ways to reduce costs
- Seek extended terms with current and future vendors
- •Keep sourcing cheaper raw materials
SEWN has found an ever growing number of stressed businesses dealing with these issues. However, our number is still a relatively small sample size. If we can quantify these assumptions on a larger scale, we could command more attention from regional and statewide organizations who have the ability to help. We are asking your help by responding to a small confidential survey. If you would, please click this link and answer the five following questions;
- Have your gross and net margins been shrinking over a period of time?
- Has your ability to attract new customers proven to be more difficult?
- If yes to these questions, what do you see as the major cause
- Is your web site and/or the software you are using to run your business providing you with a competitive advantage?
- Have you had any successes responding to the issues listed at the start of this article?
Thank you in advance for your responses. Our objective is to use these responses to generate a collective voice for positive change. The concerns of many often lead to creative solutions. With your help, we hope to make this statement a reality.
The SEWN program is a partnership with the BCEDC. Our mission is to assist in the process of revitalizing stressed companies with common goal of saving jobs and creating a better economic environment.