April 21, 2006
By Christine Torode
Staff writer

Workshop focuses on economics for entrepreneurs

PEABODY — How does the price of oil affect small businesses?

Rising energy costs are but one issue that John Bitner, Eastern Bank economist, plans to shed some light on next week during an economic trend workshop for entrepreneurs.

The workshop, "The Economy and Your Small Business" is sponsored by the Small Business Development Center, Eastern Bank and 20 chambers of commerce across Massachusetts.

Margaret Somer, director of the Small Business Development Center in Salem, asked Bitner to develop the workshop.

"I heard John Bitner speak recently at a North Shore Chamber event on changes in the economy," Somer said. "(It made me) wonder ... How does the price of oil affect a small business? How do consumer, government and business spending affect local retailers? What stage of the business cycle are we in and why does it matter? Is this inflation? Or just a blip?"

Bitner's goal is to have small businesses, which represent about 90 percent of the state's businesses, walk away with a game plan for the future.

"(The workshop) will take a look at where we are now and where we're going," he said. "It will give (attendees) the tools they need to keep planning for the future on their own. That means making them aware of resources where they can find data on the state and regional economy so they can stay current and evolve their business plan as business cycles change."