Business owners plan ahead of possible cuts - WAFF-TV: News, Weather and Sports for Huntsville, AL

Business owners plan ahead of possible cuts

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HUNTSVILLE, AL (WAFF) -

The idea of sequestration is weighing heavy on the minds of business owners who rely on government contracts. If no deal is met by the March 1st deadline, automatic spending cuts will kick in. That means many people who rely on work through the government will see a major loss of business. Contractors and subcontractors are already making plans ahead of those possible cuts.

Thursday morning the Small Business Alliance met at the Davidson Center. Joel Russ with Alltek Seal and Packing attended the meeting. Alltek is a company that supplies engineered parts to the military and aerospace industry. If no deal is met, military funding would be slashed, which would mean a big loss of business for Russ's company.

Russ said his company is focusing on remaining flexible if cuts happen and business declines.

"As far as the cuts go, as a company, we're preparing for them," Russ said. "We have a couple of contracts with the aerospace industry and military and we're definitely worried about those things long term."

A deal must be made by March 1st in order for spending cuts to be avoided. Most people at Wednesday's meeting do not believe lawmakers will come to an agreement by then.

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