LAYTON — “I understand there’s a recession; but as a business owner, you can choose not to be a part of it.”

Steve Cloward, Director of the Davis Business Alliance located near the Davis Applied Technology College in Kaysville, said those words as part of his discussion on what a small business owner should do when operating in tough economic times.

The discussion was part of the Northern Utah Business and Economic Summit (NUBES), held last Thursday at the Weber State University Davis Campus in Layton.

Cloward was the featured speaker in one of four break-out sessions in the morning after keynote speaker Fred Ball – senior vice president of Zions Bank – spoke about the history of the economy in Utah.

The other three morning sessions covered the topics of legislative outlook, economic outlook, and commercial lending.

“There are things business owners can do to stay out of the current economic situation,” said Cloward, “because the best part of having a business is being the owner of that business.

“Being the owner, you have total control of whether or not you choose to become a part of this recession the state is still in.”

One key point in the discussion was how well business owners manage their cash. Where it’s going and what it’s doing at all times during the day is said to be just as important as running the day-to-day business itself.

“Management is key to everything,” said Brent Meikle of the Small Business Development Center. “Managing your cash, your resources, your credit, all of it.

“You have to have the right attitude to survive, too. If all a business owner sees is ‘doom and gloom’, then they will most likely fail.”

He continued by driving several key points to local members of the Davis Chamber of Commerce, including making tough choices when turning to “survival mode.”

“Sometimes you have to make a tough choice,” he said. “Layoffs, terminations, furlough of staff and hours...it’s all part of being able to survive. But making those tough decisions is necessary; it’s how some companies are able to thrive.

“The business owner that sees their company fail is most likely due to not being able to pull the trigger and make those decisions.”

Cloward and Meikle then offered suggestions on how to better survive if a person’s business is struggling.

“The most important thing to do if you’re in real trouble is to look for help,” said Cloward. “There are opportunities out there to create and make money.”

Meikle followed by mentioning SBA (Small Business Alliance) programs, which are available to business owners whether they are struggling or not.

“There are plenty of sources in the open for business owners to look for,” he said. “If your business is doing great, then that’s fine. But if you’re in trouble, people are out there to help you get through the tough times.”

sgillet@davisclipper.com