The “R” Word (September Newsletter)
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“Recession” is a powerful word, all inclusive and definitely capable of poisoning the proverbial well. It can create a tsunami of negative think, often too powerful to overcome. In an effort to see what the SDSI members thought, we conducted a “business attitude survey.” The results were unexpected: 70% of SDSI Members estimated Year End Sales for 2022 to exceed 2021, a banner year in the SAL Industry. Forecasting 2023, 63% estimate it to be a year of opportunity and increased sales. The same 63% plan on an increase in hiring. This does not sound like “recession” thinking! The survey was not all Pollyanna: Inflation and supply chain challenges actually ranked higher than fear of recession. Consumer spending is always uncertain. Cash flow, remains an issue, especially when it comes to accessing capital. Our space, Sport, Active and Healthy Living, represents the power of lifestyles centered on health and sustainability. Get healthy, stay healthy is always the fundamental factor in our businesses. Are “we” recession proof? Are you an optimist, a pessimist or somewhere in the middle? You can access the Survey Here and check your alignment with SDSI Members. Optimistically yours (now!),
-BR
SDSI Accelerator Welcomes New Cohort
Another cohort of the SDSI Accelerator program is officially underway! We’ve onboard 7 new companies who’ve been paired with a team of experienced mentors to work on growth plans for their business. Congratulations to Bench Clearers, Edge Theory Labs, MX Auto, Rosey’s Eyewear, SISSFiT, SwellCo and TASCO, who officially make up Class 20 of the SDSI Accelerator. We’ve also recently released the schedule for Class 21 here, which will start in the new year – remember you can start your application at any time to get in the running for the next schedule cohort. Learn more and apply here.
SDSI Business Survey in SDBJ
Our 2023 business survey which was talked about in Bob's opening paragraph, was published in the San Diego Business Journal as an optimistic outlook by SAL industry leaders despite some seemingly "dark clouds". All respondents were SDSI companies answering questions about their current state of business through 2022 and a look into their 2023 projections. To read the full article in the SDBJ click here.
