Kenneth C. Wisnefski, Entrepreneur and small business owner, discusses recent economic data released by the National Federation of Independent Business (NFIB) stating its Small Business Optimism Index fell to 88.1 in August.
Wisnefski is the founder and CEO of WebiMax, the #1 rated search engine optimization firm in the United States. “I’m not sold that small business owners are taking the necessary steps to innovate their business to curb obstacles the U.S. and global economy is throwing at us”, announces Wisnefski.
The NFIB stated the decline was mostly due to weak expectations for sales growth and reduced optimism for improvement in business conditions in the short-term (6 months). This report comes just days after President Obama’s American Jobs Act address to a joint session of congress, more or less stating that small businesses play the most pivotal role in hiring and helping the economy get back on track.
“The continued decline in the Index counteracts The President’s push for small business owners to start hiring again”, states Wisnefski. “This Index could actually be climbing if small business focused more on adapting to change and innovating their operations to run more efficiently”.
Wisnefski further suggests that such innovations can include “incorporating social media marketing and weeding out traditional mass-advertising methods, creating dynamic websites with ecommerce capabilities (having your business open 24/7/365), advertising on Google Search versus I-95, and creating ‘virtual workplaces’ which eliminates operational expenses including the cost of running the building with a full-house”.
The declining Index reasons small business owner’s resistance to hiring new workers, thus severely hindering the rebound of a struggling economy.
“There is an abundance of raw talent sitting on the sidelines right now, and small business owners are also reluctant to hire because candidates don’t possess the specific skill traits they are looking for. At WebiMax, we hired candidates with proven track records in their respective industries and trained them to become the type of employee we needed them to be”, states Wisnefski. “In 2008 thru present, once we innovated and started hiring aggressively, our company took off and now we’re recognized as one of the fastest growing companies and rated #1 in 10 out of our 12 product lines in the United States by TopSeos.com.”
Kenneth C. Wisnefski, a serial web Entrepreneur, discusses the American Jobs Act and its role in helping to curve the 9.1% unemployment rate. Wisnefski, a small business owner, leads WebiMax as the #1 rated search engine optimization firm in the United States. He defends the Act stating “President Obama is taking necessary steps to force congress to act now before America continues its downtrend in economic uncertainty”, and further states “businesses both small and large are reluctant to head forward due to their hesitancy to adapt to change”.
President Obama, in a speech to a joint session of congress and a struggling nation, called upon legislators to start acting now, before the country slips into further economic uncertainty. The proposed $447 billion jobs package offers tax incentives to small businesses that hire and provide raises to their personnel. The Act also discusses the vital role that small businesses and Entrepreneurs play in the recovery.
“Small businesses and the private sector can help lead the United States back to lower unemployment”, states Wisnefski, an Entrepreneur on his 3rd profitable startup since 2001. “As a small business owner, we all have the duty to continue to hire U.S. citizens and keep American workers at home”.
There are some additional roadblocks, however, that Wisnefski states hinders many businesses from hiring.
“Many small businesses have not adapted to change and wonder why their revenue is falling”, exclaims Wisnefski. “Social Media is replacing traditional communication and marketing tactics. Online advertising and pay per click management services are replacing outdated methods of advertising on a billboard. Who is growing faster, AT&T, or Facebook?”
Innovating and adapting are the most crucial elements to growing a business at present.
“At WebiMax, we saw the change in dynamics several years ago and leveraged search engine optimization, social media, ecommerce, and other online marketing services to launch off our pad in 2008 to become one of America’s fastest growing companies. Our revenue is up 15,000% since our inception in 2008 and we employ over 150 staff (up from 4 at start), all because our products are in high demand by companies adapting to the change”, states Wisnefski.
President Obama also stated that the Act will cut payroll taxes in half in 2012 for small businesses that hire. In addition, he stated that the Act will provide a jolt to an economy that needs to be restarted.
“I applaud The President’s intent and willingness to do what he can but ultimately this requires much more. The ‘jolt’ that the U.S. economy needs is also for Entrepreneurs and small business owners to focus on what they can do internally to grow their business. At WebiMax, we took highly skilled and talented candidates and trained them in to the roles that we needed filled. Although the American Jobs Act certainly provides financial incentives to businesses, I feel companies need to continue to evaluate how they can improve their position, innovate, and push forward”, concludes Wisnefski.