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SPECIAL REPORT: OUTLOOK WITHIN AND BEYOND THE FINANCIAL CRISIS IN 2005.
(From BusinessWorld (Philippines))
Byline: Sarwell Q. Meniano, Robert Leonoras and Jun P. Tagalog
The surge in the prices of goods last year limited the purchasing power of consumers, causing a marked decline in sales of small retailers.
But instead of giving up, some small businessmen in the Visayas fought to stay afloat by reducing their inventory, cutting back on overhead expenses, practicing multitasking and improving product quality and design.
Jaime Pacanan, who runs a grocery store in Tacloban City in Leyte, said he noticed a 25% to 50% decline in his customers' purchases last year. His reaction was to immediately decrease his …
