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Businesses in Connecticut are being urged to see the downturn not as a negative, but as an opportunity, and to be in shape for the recovery when it comes.

The Connecticut Convention Center in downtown Hartford was abuzz with optimistic talk Thursday despite rising fuel prices, a tanking housing market and growing job losses in the state.  At a lunch talk at the Connecticut Expo for Business, small companies were urged to do a reality check, and not to get discouraged by the wider economic picture.
 
Key tools for the small business in a downturn, according to the experts, stick to your business plan, ensure you have adequate cash flow, and trim expenses, but avoid layoffs if you can. Peter Gioia is chief economist for the Connecticut Business and Industry Association.

"There’s going to be challenges in regards to finding qualified workers.  Companies are already having those issues.  And if companies react too quickly and lay off people who they may need, they could position themselves in a very bad way, because not only may they lose their own workers, but what they may do is staff up the opposition."

In the longer term some see an even rosier future for Connecticut and the nation – Ken Gronbach is a futurist and demographer.  He believes as Generation Y enters the labor force we may even see an end to offshoring of jobs in manufacturing and other sectors.

"What you’re going to see is a resurgence of small businesses satisfying needs in geographical areas.  And we have the labor force, we have the expertise, the fact that we have our own homegrown labor force for the first time in 20 years."

But experts warn both business and government need to be vigilant in preparing the coming generation with the skills that will be needed by tomorrow’s workforce.