In business, as in life, opportunity is ever-present. But for many local businesses that have made it through the Great Recession – or are just starting out – finding the resources and courage to take advantage will be challenges in 2011.
For the second year in a row, Providence Business News spoke with 10 business and community leaders for their take on the most important thing businesses need to know in the coming year. Their insights will hopefully spark an idea or inform decisions to give you a leg up on competitors.
For example, Karl Kozak, president of Pawtucket Credit Union, says realistic expectations for the economic recovery beginning to take hold are crucial. “We’ll come out slowly,” he said. “I’m going to be patient.”
In commercial real estate, “conservatism is really the watchword,” said Alan Doyle, principal at Larew, Doyle & Associates in Providence. Landlords, he says, should be building rainy day funds and looking beyond banks, to insurance companies and the like, for financing.
URI President David Dooley sees increased opportunity for partnerships between the university and businesses in the coming year. That could include revival of a plan for an on-campus research and technology park, he said. •
