Uncertain times

Deflation and an uncertain job market occurs when there is too little customer demand for goods and services, too much global competition to produce goods and services, and too much capacity for companies to cut prices to move inventory.

Most economists believe that low interest rates, lower oil costs, and tax cuts should prevent a deflationary depression.

“In both booming and uncertain economic times, one thing is for certain: people often look to self-employment as a safeguard,” said David Burton, community development specialist with University of Missouri Extension.

However, Burton warns that before starting or buying a business, a great deal of study, information gathering and planning should be done.

“If considering buying a business, there are some key questions to ask,” said Burton. “There are also some very important things to consider before starting your own business.”

That is why University of Missouri Extension has collaborated with other universities and the Small Business Administration to have Small Business Technical and Development Centers accessible throughout the state.

Small businesses are assisted through MU Extension’s business development specialists and regional Small Business & Technology Development Centers (SBTDC). Professionals at SBTDC locations deliver up-to-date consultation, training, and technical assistance in all aspects of small business management.

Assistance is available to owners interested in improving or expanding an existing small business and to prospective business owners.

For more information, contact one three Small Business and Technology Development Centers in southwest Missouri: Missouri State University in Springfield at 417-837-2617, Missouri Southern University in Joplin at (417) 625-3128 or Missouri State University in West Plains, (417) 256-9724.