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Article: Putting anxiety to work: business owners channel worries about the economy into more efficient practices.(BUSINESS NEWS)
- Article from:
- Black Enterprise
- Article date:
- January 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 Earl G. Graves Publishing Co., Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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STACEY M. ALPHONSO IS PREPARING FOR TOUGH TIMES. As president of Mecca Marketing Media, a marketing and advertising company in Philadelphia, Alphonso has cut costs about 35% this year, in part by saving on benefits as well as payroll taxes by hiring contractors to handle new accounts. The firm, which expects to bring in $175,000 in revenues for 2008, has seen clients that formerly spent between $20,000 and $30,000 annually on marketing now spending as little as $5,000 to $10,000. Using contractors "helps cut down on a lot of the overhead," says the 41-year-old.
Alphonso is not alone in her action or sentiment. Surveys show that small business owners are feeling ...