Comments on: America Runs On Small Business http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/ Because America runs on small business! Thu, 11 Mar 2010 03:23:01 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Mike Clough http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-945 Mike Clough Thu, 17 Dec 2009 22:54:17 +0000 http://bestbizpractices.org/?p=317#comment-945 Steph, there is also http://prosper.com. Steph, there is also http://prosper.com.

]]> By: Steph Robey http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-944 Steph Robey Thu, 17 Dec 2009 22:31:06 +0000 http://bestbizpractices.org/?p=317#comment-944 Mike - great article! It's interesting how many times lately I've heard this same exact topic. I, myself, am a corporate refugee - by choice. I love the start-up of small business. The toughest part is always getting those first dollars in... and because of that I wanted to share something I heard about the other day: micro loans for entrepreneurs. Apparently, while this happens all of the time in 3rd world countries, banks don't do this in our own country. For many reasons - but this gentleman found away around it, for the exact reason you espouse: Small Business Carries America. Let's face it - at the end of the day, it won't be government that saves this country. It will be Entrepreneurs. They're the ones that continuously see challenge as opportunity. They stay up late working regardless of the pay. And, they don't ask for a bail out - they do a "figure it out.". Then they employ people within their community. Please pass this site on to your readers. I have no self serving interest in it other than HOPE. http://angelsinaction.tv/ Mike – great article! It’s interesting how many times lately I’ve heard this same exact topic. I, myself, am a corporate refugee – by choice. I love the start-up of small business. The toughest part is always getting those first dollars in… and because of that I wanted to share something I heard about the other day: micro loans for entrepreneurs. Apparently, while this happens all of the time in 3rd world countries, banks don’t do this in our own country. For many reasons – but this gentleman found away around it, for the exact reason you espouse: Small Business Carries America.

Let’s face it – at the end of the day, it won’t be government that saves this country. It will be Entrepreneurs. They’re the ones that continuously see challenge as opportunity. They stay up late working regardless of the pay. And, they don’t ask for a bail out – they do a “figure it out.”. Then they employ people within their community.

Please pass this site on to your readers. I have no self serving interest in it other than HOPE.
http://angelsinaction.tv/

]]> By: Jeff http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-943 Jeff Thu, 17 Dec 2009 19:29:21 +0000 http://bestbizpractices.org/?p=317#comment-943 What America's economy needs desparately is a return to moderation. Moderate growth, moderate debt, moderate investment, moderate incomes, moderate returns, moderate risk and moderate regulation. We live in a era unfortunately where each of these metrics swing from very high to very low. Moderation equals stability and that's what we need, regardless of business size. What America’s economy needs desparately is a return to moderation. Moderate growth, moderate debt, moderate investment, moderate incomes, moderate returns, moderate risk and moderate regulation. We live in a era unfortunately where each of these metrics swing from very high to very low. Moderation equals stability and that’s what we need, regardless of business size.

]]> By: Dave Manzer http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-942 Dave Manzer Thu, 17 Dec 2009 17:53:03 +0000 http://bestbizpractices.org/?p=317#comment-942 I think it's easy to play the blame-game after the fact. The fact is, before the real-estate bubble burst, everybody benefited from a very loose regulatory and capital equity environment. Money was easy to come by, stoking the largesse of everybody up and down the economic food chain. Small businesses had easy access to cash the same as large companies. As consumers, we piled on the debt in the belief our homes would continue to rise in value and salaries would keep pace. We were all caught up in the party, and as long as it didn't come to an end, nobody seemed too worried about the consequences to our national, commercial or personal balance sheets. That is until it came to an end. While I don't like the taste of the bitter bail-out pill we had to swallow to get through the worst part of the recession, in many respects it was the best choice among a very limited set of options in the very short time frame given to the government. Who got us into this mess, who paid the most, who benefited the most -- none of it really matters now except that we must learn the hard lessons and find ways to make sure we don't slide back into our live-for-today materialistic ways. We must find ways to add regulations that find and stop the financial abuses of the past, but those abuses are symptomatic of a national materialistic ethos gone amok. We must take care of our small businesses by doing business with them. We must do business "on-shore" and keep the dollars we have a tendency to spend with such abandon helping our local, regional and national economies. We must alter our definition of "The American Dream" so that it encompases more than just our own materialistic fantasy but embraces the good of our country's economy, environment and integrity. I think it’s easy to play the blame-game after the fact. The fact is, before the real-estate bubble burst, everybody benefited from a very loose regulatory and capital equity environment. Money was easy to come by, stoking the largesse of everybody up and down the economic food chain. Small businesses had easy access to cash the same as large companies. As consumers, we piled on the debt in the belief our homes would continue to rise in value and salaries would keep pace. We were all caught up in the party, and as long as it didn’t come to an end, nobody seemed too worried about the consequences to our national, commercial or personal balance sheets. That is until it came to an end.

While I don’t like the taste of the bitter bail-out pill we had to swallow to get through the worst part of the recession, in many respects it was the best choice among a very limited set of options in the very short time frame given to the government. Who got us into this mess, who paid the most, who benefited the most — none of it really matters now except that we must learn the hard lessons and find ways to make sure we don’t slide back into our live-for-today materialistic ways. We must find ways to add regulations that find and stop the financial abuses of the past, but those abuses are symptomatic of a national materialistic ethos gone amok. We must take care of our small businesses by doing business with them. We must do business “on-shore” and keep the dollars we have a tendency to spend with such abandon helping our local, regional and national economies. We must alter our definition of “The American Dream” so that it encompases more than just our own materialistic fantasy but embraces the good of our country’s economy, environment and integrity.

]]> By: Derwin http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-941 Derwin Thu, 17 Dec 2009 16:25:04 +0000 http://bestbizpractices.org/?p=317#comment-941 Thank you Mike for taking this bull by the horns. Government recognition of just how important small businesses are to our economic growth and stability has definately been lacking. Yet, it was the small business owners tax dollars used to bailout the "Infalliable Big Businesses." Who in turn, terminated thousands of jobs. And where will these individuals seek employment - Small businesses or they will become smal business owners. Thank you Mike for taking this bull by the horns. Government recognition of just how important small businesses are to our economic growth and stability has definately been lacking. Yet, it was the small business owners tax dollars used to bailout the “Infalliable Big Businesses.” Who in turn, terminated thousands of jobs. And where will these individuals seek employment – Small businesses or they will become smal business owners.

]]> By: Christine http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-64 Christine Wed, 29 Jul 2009 22:17:09 +0000 http://bestbizpractices.org/?p=317#comment-64 Mike, thank you for addressing this critical issue - government IS NOT supporting small business. Studies show that small business is responsible for the majority of employment and new innovation; the engine that drives our economy. We are no longer a country that manufacturers - we are an ideas country. This administration's single-minded focus to bail out the architects of destruction (the big banks and Wall Street to stunning profits) fails conventional logic and reason . . . unless further destruction is the intended outcome. Rather than sending our money overseas, we should be investing it where the greatest opportunity for future growth exists - with small business. Any ideas about how we remove their blinders??? My efforts to reach out to our local officials has failed miserably. Mike, thank you for addressing this critical issue – government IS NOT supporting small business. Studies show that small business is responsible for the majority of employment and new innovation; the engine that drives our economy. We are no longer a country that manufacturers – we are an ideas country. This administration’s single-minded focus to bail out the architects of destruction (the big banks and Wall Street to stunning profits) fails conventional logic and reason . . . unless further destruction is the intended outcome. Rather than sending our money overseas, we should be investing it where the greatest opportunity for future growth exists – with small business. Any ideas about how we remove their blinders??? My efforts to reach out to our local officials has failed miserably.

]]> By: Mike Clough http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-63 Mike Clough Tue, 21 Jul 2009 22:54:05 +0000 http://bestbizpractices.org/?p=317#comment-63 It is certainly true that CIT Group has its share of problems. Their specialty is unsecured loans and in a bad economy, these loans are not performing well. Nonetheless, CIT have secured a $3 billion loan from private investors and plan to pay off about $1 billion in debt that matures on August 17. Unfortunately, our government has decided they are not “too big to fail” because they turned down their request for a bailout. I believe the odds as good that they will struggle through and continue forward as fail. Of course, the opposite is also true. Yet, if they do go under it will create a vacuum that hopefully someone will quickly fill. Small business needs financial support so we can rebuild what big business has destroyed. It is certainly true that CIT Group has its share of problems. Their specialty is unsecured loans and in a bad economy, these loans are not performing well. Nonetheless, CIT have secured a $3 billion loan from private investors and plan to pay off about $1 billion in debt that matures on August 17. Unfortunately, our government has decided they are not “too big to fail” because they turned down their request for a bailout. I believe the odds as good that they will struggle through and continue forward as fail. Of course, the opposite is also true. Yet, if they do go under it will create a vacuum that hopefully someone will quickly fill. Small business needs financial support so we can rebuild what big business has destroyed.

]]> By: Cathie http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-62 Cathie Tue, 21 Jul 2009 21:46:48 +0000 http://bestbizpractices.org/?p=317#comment-62 Mike "I believe it is small business and innovation that will breath new life into our economy" I believe as well. But there is a funding issue that is getting even more tight, especially with CIT who funds 70% of small to med. size companies cutting back up to 80% things will be getting even tighter. Small business are what make our economy what it is, there is no question. They need funding to grow. Factoring/Accounts Receivable Funding in many cases is the only option. That is where a funder will purchase a companies accounts receivable and give them cash with in a week rather than waiting the 30 to 60 days. This time value of money is of great value and can make a big impact. And in some cases be the only source of funding for business in todays tight lending environment. Mike
“I believe it is small business and innovation that will breath new life into our economy”

I believe as well. But there is a funding issue that is getting even more tight, especially with CIT who funds 70% of small to med. size companies cutting back up to 80% things will be getting even tighter.

Small business are what make our economy what it is, there is no question.
They need funding to grow. Factoring/Accounts Receivable Funding in many cases is the only option. That is where a funder will purchase a companies accounts receivable and give them cash with in a week rather than waiting the 30 to 60 days. This time value of money is of great value and can make a big impact. And in some cases be the only source of funding for business in todays tight lending environment.

]]> By: Tim Negris http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-60 Tim Negris Fri, 17 Jul 2009 13:13:05 +0000 http://bestbizpractices.org/?p=317#comment-60 Great post. SMB is a vital, underappreciated resource and the key to restoring the middle class and the economy. Technology can play a huge role in making this happen. Cloud Computing is not just for consumer services and enterprise IT. Small Business will reap big rewards from this new technology paradigm. In my blog, I look into this at some length in an article entitled "And the Small Shall Inherit the Cloud". http://techdivinator.blogspot.com/2009/07/and-small-shall-inherit-cloud.html Great post. SMB is a vital, underappreciated resource and the key to restoring the middle class and the economy. Technology can play a huge role in making this happen.

Cloud Computing is not just for consumer services and enterprise IT. Small Business will reap big rewards from this new technology paradigm. In my blog, I look into this at some length in an article entitled “And the Small Shall Inherit the Cloud”.

http://techdivinator.blogspot.com/2009/07/and-small-shall-inherit-cloud.html

]]> By: Sari http://bestbizpractices.org/2009/07/14/america-runs-on-small-business/comment-page-1/#comment-61 Sari Wed, 15 Jul 2009 04:38:58 +0000 http://bestbizpractices.org/?p=317#comment-61 A conducive environment would lead to innovation with mediocre to excellent talent, and definitely a burning need. A conducive environment would lead to innovation with mediocre to excellent talent, and definitely a burning need.

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