A Small Business Bailout?

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Small Business Bailout

Im a small business owner in the Midwest. I wanted to share my thoughts on the small business bail out. We (my wife and I) work 6 days a week and have earned every penny we make. We pay taxes, provide benefits etc.. for our employees. With our capital gown down every month due to high interest loans we wonder why we are doing this. Obama and his administration do not care about us nor do they understand. We pay more taxes now than last year, we have not fired any employees, and continue to watch our capital deplete and our credit lines drop due to the excuse of "The economic failure". We need help! Unfortunatley we arent unemployed so we will not qualify for an SBA loan. If we made a profit or have assets they(SBA) frown. Got an idea.. back our banks! guarentee payments to them and drop our rates to an all time low. Cut our taxes! We are hard working tax paying american small business owners. AIG, Lehman Brothers, Wells fargo etc.. need to learn the word "lean".

I could rant and rave for an hour but this si just my 2 cents.

noname of OK @ Mar 18, 2009 13:34:33 PM

I own a small business...

...and I don't want a handout, nor do I want to take on extra debt. We are as lean as it gets, we manage our business very well, and we are still failing due to this bad economy. We have created our own jobs (no need for the government to spend billions to do that for us), yet if we fail we will be thrown into a horrible job market and we will NOT have access to unemployment benefits.

As it stands our sales and our savings are shrinking every day. Currently our tax bill is set to nearly deplete our savings, and since we are a sole proprietor that amounts to our personal household savings - this isn't just a faceless business. Without some sort of help we could end up worse off than the lowest income bracket - all of our hard work over the last 8 years down the tubes.

The government needs to seriously consider tax cuts or credits for small businesses to ensure that we sustain our jobs, and can weather this free fall we are currently experiencing!!! Tax cuts will hit everyone, not just a select few.

RJ of TX @ Jan 29, 2009 01:40:37 AM

Bail-out or Level Playing Field?

You are correct, small businesses don't want a bail out. But don't the vast majority of companies in the U.S.--small businesses--deserve a level playing field?

In NSBA's proposal to address the significant challenges facing the small-business community, we urged several lending changes to SBA's policies--many of which used to be in effect years prior, including actually funding programs which have seen dramatic decreases in the past year. When calling on banks to use a certain percentage of TARP funds specifically for small-business lending, isn't that what those funds should be used for? If the whole purpose is to free-up lending, surely there is no segment of the U.S. economy that has seen greater restrictions on their ability to garner financing in the past several months than small business.

Calling on Congress to enact policies that ensure continued growth of the small-businesses sector, and thus create jobs, is sound policy--not a bail-out.

Molly Brogan of DC @ Jan 12, 2009 09:50:12 AM

Small Business Needs to Get Lean

Excellent article.

Also, small businesses should use the downturn to get lean, flexible and competitive.

They can access free resources from "The Great American Small Business Challenge," a new, non-profit organization that partners with SBA funded Small Business Development Centers.

Small Businesses can access free online software, training and support at: www.tgasbc.org

Mike of IL @ Jan 11, 2009 12:32:00 PM

Though...

Then again, some of Mr. Flynt employees could be used as flotation devices, so perhaps he should qualify.

Greyson of OR @ Jan 11, 2009 01:48:55 AM