As a journalist dealing with small business on a daily basis, I see
the innovation and growth under way at some of the
nation's smallest firms. The job picture
is grim in many parts of the nation. American small firms
continue to hire, albeit at a slower pace. Most small
businesses are not experiencing the challenges of some of the
nation's best known corporations. The recent
collapse of three major financial
institutions -- Bear Stearns, Lehman Brothers, and
Merrill Lynch -- has left Wall Street
reeling. While investors are concerned about the financial
landscape, small firms offer opportunities for growth and
innovation.
Are you skeptical about the impact of small firms? Consider: Small businesses are the greatest source of new employment in inner
cities, comprising more than 99 percent of establishments and 80
percent of total employment. In fact, small firms represent 99.7
percent of all employers. Go to your bathroom medicine
cabinet; about half of all the most popular prescription
drugs you will find there were initially discovered by small
biotech companies.
One business author agrees small firms are a great place for
investors to look for new opportunities: "Now might be the time to explore companies that
seem a little off the beaten path, innovative outfits in the small-
and micro-cap spaces," says Dian Griesel, author of
the forthcoming "Uncapped," and founder and CEO of the Investor
Relations Group. "Even when times are rough on
Wall Street, America never stops innovating or investing in our
future."
Griesel sees biotech as a growing area and untapped
opportunity: "Many tech and biotech
companies in the micro-cap space are great examples of where the
real cutting-edge research and development is occurring. In
all likelihood, the micro-cap space is where we will see the
emergence of things like oral insulin, cancer vaccines, and the
next wave of nanotechnology. These companies act like a crystal
ball for the future, and the well-positioned investor has the
opportunity to reap windfalls," added Griesel.
Griesel is also the author of "Capitalization Success," "The 101
Platinum-plus Rules of Media Engagement," and the forthcoming
"Uncapped."