Even in their demise big business trumps small business when it comes to the news. I guess it gains more clicks and sells more newspapers to report on 1,000+ job losses at a big business than job losses of 1,000+ at 300 or so small businesses.
While the news in Australia is currently dominated with reports of the planned closure of various car plants and, now, the closure of the Alcoa plant, these are just part of the story of the economic restructuring occurring within Australia.
In several small business sectors we are seeing restructuring resulting in business closures and layoffs.
But let’s not dwell on the doom and gloom. In small business sectors we are seeing new business start and existing businesses expand. Even in the newsagency channel I am seeing new businesses open as well as existing newsagency businesses alter direction of their model in pursuit of new opportunities.
Yet media outlets are not chasing these turnaround stories, especially small business success stories. It is as of only bad news sells clicks and newspaper purchases. This is frustrating because there is plenty of good news in small business circles and in newsagency circles. Reporting these stories could show others opportunities they are missing today.
In the newsagency channel, one of the most compelling stories is newsagents who are transitioning their businesses from the average gross profit model of 28% to 32% to a model of 40%+. This is hard work. The results are exciting. It’s a story to report – the reinvention of the quintessential small business in Australia.
What makes the unreported small business success stories better is that most are achieved without the government handouts that successive federal governments have given to big businesses for decades.
The media and politician obsession with big business is frustrating.