Web.com Small Business Tip of the Day: Uncle Sam Tightens Purse Strings - Forum.web.com
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Web.com Small Business Tip of the Day: Uncle Sam Tightens Purse Strings

If you do business with the federal government, your financial future might be dimming a bit. According to the National Association for Business Economics, the automatic sequestration spending cuts will cause government buying and investment to decline 2.3 percent this year, which is more than double the 1 percent drop originally projected. Luckily, the group revised its projections for personal consumption spending upwards, projecting a 2.3 percent increase for 2013 and another 2.6 percent increase for 2014. What does that mean for your business? If you do sell to the government, think about increasing your consumer marketing or expanding your products and services to consumers, so you can grab a bigger share of personal spending until federal spending bounces back.

Maria Valdez Haubrich

Maria Valdez Haubrich

Maria Valdez Haubrich is Chief Liaison Officer of GrowBiz Media, a media company that helps entrepreneurs start and grow their businesses. Visit her company’s blog at SmallBizDaily.com.
Maria Valdez Haubrich

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