Small business weathers the credit crunch
By Fortune Small Business staff

“Each recession hits entrepreneurs differently. Seven years ago, companies in travel and technology got slammed hardest, while this time those involved in real estate are worst off.

But today, as in past downturns, some small-business owners - even some in housing and construction - are nimble and savvy enough to thrive. Where others see only calamity, they see cheap credit, bargains on equipment and property, and new opportunities to hire topflight employees.

There are a few common themes to their success: They didn’t wait for Congress to decide on a stimulus package; they moved quickly to adjust their products and business plans to take advantage of more lucrative niches. Some diversified. Others identified new customers. Almost all cut behind-the-scenes costs. ”

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