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And about holiday shopping today we have small business Saturday that's coming up it's an opportunity.
A couple of days after Thanksgiving the day after Black Friday the 24 of this year.
For small businesses to -- wool with some shoppers into their stories and get away from that big retailer kind of feeling so we -- the CEO of sage works.
Company that gathers financial data on private businesses try to write Hamilton here in the -- sunset -- we cannot yet agree to be -- -- -- so small business Saturday what are the expectations.
So far this year revenues are up for private companies which is good -- we expect that to continue although we should note that -- rate of growth of private companies has gone down quite a bit.
-- -- Since last year over the past twelve months so we're a little bit concerned about that because.
Not too much on a foretell the future but last time this happened we went into another recession amounts -- 2007 -- -- 82008 to 2009 if you remember and so we're we're a little bit concerned.
Growth rates are pretty good -- but they're going Donald and so you know we're on the fence that's 6% growth maybe not successes some descriptive verses what it would have picked up about 1011%.
So it's not a product say that China is still law so good so we expect pretty good results.
But we're a little bit on the fence about this we don't know what's gonna happen.
-- -- -- Just because you -- -- -- see if we look at static data or numbers you know you sort of look at it a a fixed number and it's very difficult to make a conclusion but when you look at trend -- if you look at the movement of data tells you a lot more.
So the movements down -- little -- were a little bit concerned.
We don't know -- -- -- -- be remedied by one weekend.
All the movement of the state is going in reverse which is -- Is did this fiscal cliff talk that has people -- and is it -- -- and sent you know we don't have more small business friendly.
President Mitt Romney would have been that the fact that we don't have him in office.
Visit and a mix event.
-- Yang we'll depends on your party your perspective yes.
Looking at the data no one really knows that's the truth we don't really know if you look past what is promise as a sort of credit companies it -- small businesses what do they tell you.
Will they tell us right now is they're very concerned about one specific thing.
And this effects the hiring front in particular they're concerned about the debt that we have as a nation because the fiscal.
-- yeah that's part of that but we'll look at it this way since 1947.
And produces amazingly just think about is -- since 1947.
There's been only two times in history since that -- we're government expenditures have gone down.
And revenues only four times have gone down so as a country we're increasing revenues in taxes.
And we're spending more money.
And -- business owners are savvy and if you look at the demographics these people are well educated you know how to run their business.
In their operating under this umbrella of uncertainty.
Which is really triggered by the debt now important to remember and I know -- right now but remember.
This is been going on under under both Republican in democratic administrations.
So really not forever but it's really that right now it's bad now but you know even in the eighties even in the age when GDP growth was great morning things were going pretty well everything else.
Off on upon was coming down we were spending money like drunken sailors.
We've been doing it for 68 years and businesses are very savvy about that remember they operate under one umbrella.
Which called the United States of America rate that's their family that's their home.
When there's uncertainty -- sort of just -- -- economically.
It makes them worried about hiring and making forward looking decisions -- you can't blame them.
Right so let's let's look at Saturday shows my fourth of and I for small business Saturday when you know what's we now what is it.
Well it's funny in the hands to -- for only a little bit but I get a kick out of it a little bit because.
Who came up with -- you know -- the.
Secret Nike consumer really goes to not -- into.
A private companies today and you know you kind of have to get used by an instant.
And they -- -- -- to -- people can have hallmark for Valentine's -- don't ever give them you really so I didn't.
Little bit of -- -- -- -- I think the fact is is what's happened really.
Is after Thanksgiving we got Black Friday we've got black weekend whatever it is we have like Thursday look at certain start -- sad -- -- about.
Depression could the but yeah.
-- -- different.
But the point is we've got in got people spend a lot of money.
You know we don't really know -- people would wake up and say hey I'm -- -- small business the fact that matters they're gonna go with a savings are.
And where is that.
Well you know the answer that when the big box retailers and it is very clear -- these beautiful cult.
To survive today as a small business retailer in all the segments we track that's one of the lowest performing ones consumers and you cannot blame them.
They want to save money in -- should it's free market enterprise and that's capitalism.
They're gonna go where they save money I don't know if they're gonna wake of this -- -- with a small business unless they are small business owner traditionally -- -- themselves.
When he seven million small businesses yeah backbone of the US economy instrument generating jobs -- everything else.
But you know.
Now called big retailers -- do well.
Best Buy on -- its case in point really seems like everybody is struggling and that's why we've seen so many deals so early years so far this year.
I'm just really quickly they have about a minute left and wanna ask you which industries are set did the best this year.
Well from the ones that -- going -- well are the ones that have done well even 2000 non which was a training Iraq.
You know technology companies software information confirms we are mega.
Consumers of technology stuff we like technology stuff so if you're in -- it -- -- -- for -- medical.
Where health care even health care there's a lot of momentum around volume -- -- -- -- are aging now a little bit on rent and you know so.
We get a little older she -- a lot more need for health care and those industries would tend to do pretty well home furnishings are going up.
Fall housing market is getting better we that is to report -- all most fully confirmed that trend -- true coupled -- -- -- -- real quickly -- that's good it.
If you are a buyer not -- -- if -- -- -- because -- worry about prices actually even -- they're improving a little bit.
-- got all these construction companies around in the market that's gonna suppress prices -- did today stage -- it's provided a home furnishings.
In 2000 any down once ran out and present -- over the past year.
Up 9% truth -- it has been confused.
Yes we know that my dad's in the -- business and I know I know for a fact is not seen -- like -- he says you know.
Let -- we there's -- data they're you know certain segments of that category do better than -- it it.
Electronics and appliance stores those are doing gangbusters -- no that's you know and love that stuff as American -- and keep consuming and yeah.
Jewelry is up 15% and leather goods not -- right so we are seeing some gains in some sectors and it seems like the ones that got killed during the recession in 2008 might be prime right now my accountant CEOs -- its stake you so much for coming on great to be -- you are right.
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