Pain and opportunity for small-business owners

Friday, May 23, 2008

Small businesses employ America, hiring an estimated 50 percent of employees in the United States, according to the U.S. Small Business Association. But those businesses are in danger, squeezed by the weakening dollar, the credit crunch, inflation, oil prices and tighter lending standards.

In response, small businesses are doing everything you might expect. They’re laying off employees, tightening belts and raising prices. Tiffany Norwood says the bad economic times are also forcing small businesses to innovate and take a global view.

Guest: Tiffany Norwood, co-founder and vice president of Next Generation Broadband.

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