newsandviews uEe -

READING THE daily newspapers, espe. rt cially the Wall Street lournal, one rvould be lead to conclude that big business is getting bigger at the expense of smaller businesses. Mergers, acquisitions and takeovers are rampant, But for the small retailer, it may be good news that he is holding his own in face of giant retail rivals.

JIM NORTON executivc vice presidenl of the Lumber Merchonts Associqtion of Northern Cqlifornio lllf6 El €onlao hol, 3ullr 0 lor Afiof, ealli.91022 l4r5t 9.r.r6t7

I've recently received Vol. 8, No. 4 of the Smahl Business Reporter published by the Bank of America which makes for most interesting reading.

Bank of America, like most leaders in our industry, cautions that to survive, the independent merchant must be a professional. He must master the functions of rnanager, buyer, seller, controller, personnel director, and most important, store owner-responsible for setting policies and making decisions.

Today's retailer must have a genuine interest in his staff, his merchandise and his bustomers. He needs enthusiasm and physical stamina. He must be willing to work long hours.

Today's merchant is frequently caught in the squeeze. On the one hand, his rent, labor and cost of goods are rising; on the other, he is under pressure to keep his prices competitive. To succeed within this narrowing profit margin demands a high level of competence and tight financial control.

Competition for the shopper's dollar gets tougher all the time. And oompetition from others is becoming nrore intense: Manufacturers owning their own retail outlets (vertical integration) is becoming more common. Department and discount stores, newer shopping centers, in-home and direct mail selling all divert customers from the small independent retailer.

Despite all this, most members of the Lumber Merchants Assn. of Northern California can point to a good year during 1968 and they hope fqr a better one in 1969. Those who can couple retail merchandising flair with sound business management will eontinue to innovate, to set trends, to play a creative part in the retailing scene and to prosper.

Bank of America sets forth a nurnber of excellent ideas along these lines in their Small Business Reporter titled "Retailing." Why not stop in at your local branch and pick up a free copy.

Let us help you write it.

See ,our new section on page 52.

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