How Budget Cuts Might Affect Small Businesses
Centuria, an information technology firm, gave up office space in Charleston last fall and had some of its staffers work on government contracts from home, says Katie Arrington, a business development executive with the Reston, Va.-based company. Centuria made that decision based on expectations that the impending budget cuts would take place.
"The government doesn't need to be renting that space," Arrington says.
Other companies may be forced to absorb losses. Induscorp is waiting to see if it will lose money on contract bids it has made.
"You submit a bid, which costs a lot of money, and at the last minute, it can be canceled, so all of the effort you've put in up that point, that's lost," CEO Krishnan says.
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