Small Change for Small Business
Published by Bob Foster
What is in the Stimulus Package for small business?
“There’s very little, if any, money in the stimulus package for small business, and what is there is really sort of a trickle-down from the benefits that go to consumers…and it’s a slow trickle, perhaps one you won’t see until sometime in 2010, and small businesses need help now. Less than 1 percent of every stimulus dollar will go to small business, despite that operations with fewer than 100 workers created 94 percent of all net job growth in America over the last 20 years.”
–Michael Alter, President of SurePayroll
SurePayroll surveyed more than 200 small-business owners nationwide to find out how the government could help them the most. 44 percent said they need immediate access to capital more than anything else. 29 percent said money invested in innovation and product development would really boost small business.
There seems to be very little disagreement by anyone that small business will be in the lead of our economic recovery–by putting people back to work first. That is why it is incomprehensible that Congress provided such a little bit of stimulus to small business–especially when the feds are also forcing banks to withhold loans.
Giving tax breaks and small checks to unemployed people, or people who are afraid they may become unemployed, might be a welcome gesture, but I believe people want jobs and job assurance, more than they want tax cuts.
I have some choice words for Congress, but I had better not print them here!
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3 Responses to “Small Change for Small Business”
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[...] What is in the Stimulus Package for small business? There’s very little, if any, money in the stimulus package for small business, and what is there is really.More [...]
Great post!
Having spent most of my life as a small business owner of one sort or another, it seems this is so true! A business owner can’t borrow money until he has sales, profits and experience! Once you have these three things you seldom still need the credit as the business is able to provide the needed capital in (most) cases.
I am caught up right now in a case of the left hand not knowing what the right hand is doing and my bank is caught right in the middle. They would love to work out a new loan on a piece of development property that has an extremely low LTV, but because it can’t be developed within the year, the Feds will not allow them another “non-performing” asset in their portfolio. How is this fair to me? or to the bank for that matter? how about the hundreds of construction workers that may be put to work in 2-3 years that won’t be working on this piece while it is tied up in court??
I’m sorry but a platform of “change” is bullshit! The more things “change” the more they stay the same. Seems like I’ve heard this tune to the point I am now tuning it out.
Oh yeah, I never did get my lousy $300 bucks from the first “stimulus” payout ( i was a small business owner and made too much money), and since I pay a fortune in taxes but don’t get a “paycheck” I won’t get my piece of the next one either. But it’s all a joke and you hit the nail on the head, it’s capital for small business we need, not a lousy $14 a week in tax cuts, which won’t help anybody in the unemployment lines either. Who’s running this country, monkeys??
Steve
Steve – With the federal bank regulators controlling the banks, either directly or indirectly, it is no wonder our total banking system is basically shut down. The feds are no better at running banks in bad times than they were in controlling bankers greed and excesses in good times. I think what is going on today is the perfect reason for NEVER nationalizing our banking system.
Regarding stimulus programs: They didn’t work in the first great depression, and they won’t work in the second great depression. It took World War II to pull the country out of the first depression—let’s pray that is not what it will take to pull us out of this depression.
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