Earlier this year, major corporations like General Motors, Bank of America and Citigroup received federal dollars – taxpayer money – to keep their operations afloat. Despite public outcries of corporate excess and financial mismanagement leading the entities to the mess they were in, the government followed through with these bailouts because it was the right thing to do for the nation’s economy. In the midst of all this, we’ve heard very little about small businesses, which are the backbone of the American economy. This recession has affected them, too. And it’s time we turn our attention in their direction.
Small businesses keep America strong, financially. During good economic times, these businesses are responsible for more than 70 percent of all new jobs created. Additionally, a larger percentage of Americans work for small or mid-size businesses than major corporations. Yet, during tough financial times, such as the one we are currently in, these businesses can be hit so hard that they are forced to shut down.
For decades, Democrats and Republicans have sung the praises of small businesses. After all, what says “American Values” more than an entrepreneur working and saving so that they can open their own company? Singing the praises of these businesses and valuing them enough to make sure they are supported are two very different things. Finally, our elected officials are stepping up and working to assist and protect small businesses. President Obama would like to increase the amount of Small Business Administration loans. Sen. Mark Warner, a Democrat from –Virginia, Warner wants to create a $50 billion loan fund for small businesses. Both men are working within their parties to build support for the initiatives and to create a strategy for bringing them to life.
This is a start. Other elected officials must take an active role and support both plans. But they must also create support networks for those small businesses just starting out. And they should encourage, even in these economic times, more Americans to pursue entrepreneurship. From providing financial assistance to funding classes that help business owners learn all they need to make their venture a success, the government should support small business. After all, it has a vested interest in making sure they succeed.
for all that money every american person according to the census could have had a 25,000 dollar check. i know many families that could have got some if not all there debt paid. also if they had no debt they could have spent the money on cars houses etc. big money like that would burn holes in everybodies pockets. that should have been the economic recovery plan guess that make to much sense
If politics is the distribution of wealth, it is apparent that these companies got most of the wealth and they did not have to wait as long as the folks did for the last passage of HR.3548(unemployment extension). The lack of compassion for the little people, mind you taxpayers, is baffling, and makes one wonder about some of those representatives who are supposed to be representing us. A stipulation to receive some of that money should have been to set aside funds to cushion small entrprenuership initiatives. These companies could have played a vital role in sustaining many of the smaller businesses, but no for them it was about …greed, mo money, mo money, I can buy a jet plane, a marble toliet bowl and they still had a job to go to every day. So, the folks that ran out of unemployment benefits had to wait…wait…I can just imagine how many families and indidiviuals were devestated during this “longer than needed debate”. Folks should be able to walk into some of this larger commodities and receive assistance; just like going into Department of Social Services….there should be a Department for Emergency Assistance to help foot some of the damage. If the government can bail them out; they should be held accountable for helping the smaller businesses out, as well.
my buisness is flowers by anthony i need help in persuing my dream idont have capital to keep going ive sold flowers from street corners to restaurants such as Primola 1226 second ave ny ny10024 Girasole 151 E 82 Manhattan ny10028 I spent 12 yrs on the corner of Pennsylvania an Linden blvd receiving a stack of tickets even with a stoop line license in east new york brooklyn only to move into a store on rockaway an pitkin ave brownsville brooklyn to suffer with a store that had no running water or electricity and be charged 1400 dollars a mth for rent is there no justice for a guy like me i underwent 2 surgeries since 9/4/09 collapsed lung fell down steps of my apartment i have three kids who are in need of things i am a member of mt sinai gates ave brooklyn even thru it all i have a good and mercyfull god who has blessed me to be here for my children and who has blessed me with good kids thank you for your time and patience god bless
it’s not fair that the small businesses aren’t getting the help they need from government, like these huge corp. its a sin how Bush and his big business fat cats got over on us for so long. Bush allowed a lot of corruption to take place. at last that party is over.