The Crisis May Be a Boon for Some Small Businesses

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But how can we possibly prove it when some knucklehead with half the experience is also charging 20% less? Watch them fall. And watch our prices rise. Recessions and financial crises have a way of pruning the fat from the economy. The strong survive, and rise we shall.

We'll have a little more respect for regulation.

Small business owners, like myself, are loath to give the government credit for anything. We hate red tape and all the things that bureaucracy can to do to a capitalist society. We don't like big government spending or large tax increases. It's just part of our DNA.

But even this right-of-center writer has to have a little respect. It's not 1929 or 1907. There's the Fed and the Treasury and the Securities & Exchange Commission. No, they're not perfect. But they've kept the system going at a time when, historically, it would have imploded spectacularly.

They've so far coordinated pretty well with foreign central banks. Congress is raising the FDIC insurance coverage on our bank accounts. They're stepping in to do something to right all those bad loans. And they're making it easier for Warren Buffett to make even more money. I'm happy for Warren Buffett, too—he seems like a really nice guy. They have proven to me that there needs to be a role for regulation in a capitalist society.

We'll grab some space, too.

One day the newspapers are crying because real estate is so high no one can afford it. The next day they're crying because prices have dropped.

Well, we're not crying. The bursting real estate bubble means that we can finally, finally, finally buy that building or rent that space at a reasonable price. Not that overly inflated fairy tale of a price we were offered just a year ago. Now's the time to look for bargains. And the bankers will loan us the money…after they've protected us both by doing the appropriate amount of due diligence.

This year's going to be tough while the economy rights itself. But better days for small business owners are on the horizon. If we're lucky, we've got a few bucks in the bank and a few good employees still working hard for us. With that combination, smart business owners, and their newfound banking friends, will take advantage of this financial crisis and turn it into a long-term success.

Gene Marks, CPA, is the owner of the Marks Group, which sells customer relationship, service, and financial management tools to small and midsize businesses. Marks is the author of four best-selling small business books and writes the popular "Penny Pincher's Almanac" syndicated column. He frequently speaks to business groups on penny-pinching topics. More penny-pinching advice from Marks can be found at www.quickerbetterwiser.com.