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Fortune Magazine, A Stimulus Check and The Beginning of The End…?

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in The Wrong Question

I am a long time subscriber of Fortune Magazine and am a fan of their Fortune Small Business magazine.  So I was surprised and disappointed when I read “Where’s My Stimulus?” which asked “The government is giving billions to companies that make billions… Why don’t they give that money to small business?”  It reduces small business owners to spoiled, incompetent children.

Here is the simple answer for why the government does not give billions of dollars to American small business, we do not employ millions of people who would lose their job, further damage the economy and drain government unemployment funds.  However, that is not the issue, attitude is the issue.

Where is my stimulus?  This is a terrible question from a magazine for and about small business.

This article states that 75% of entrepreneurs say the government hasn’t supported them enough (poll by Intuit payroll). Are you kidding me!?! Maybe not kidding, but they sure misrepresented these poll results.

Entrepreneurs complaining the government is not doing enough for them?  I’ve never heard such a thing.  Entrepreneurs know better than anyone they GET nothing in this world.  If they want a company, an opportunity, more income, personal wealth, they have to create it, it is not given.    Not by customers, vendors, competitors, suppliers and never from the government.

This article tells the tale of a catering business owner who is struggling and can’t get financing to help her business.  She says she was turned down by four banks because she did not have an existing credit line.  I’m in small business finance and  doubt that is real reason  she was declined.

True, banks are very tight today, but strong business with strong credit find money, even in this environment.  The article also reveals she has had “borrowing woes”.  When did Fortune go so soft and decide to make the facts fit a story.

If she got her money (she only needs $15,000) she intends to hire 10 full time employees and expand into mail order and personal chef services.  Are you kidding?  If she asked me for that amount with the specific objective of hiring 10 people and expanding her business into two areas she has not been before, guess what I would say?  NO!

If she went to the government or the SBA for a small business loan, with the same plan, guess what I’d want them to say…?  Remember, it is our money they lend.

Another owner in the article said (this is a direct quote) “If the government gave me money, I’d go out and buy a new car. The car companies would make some money and I could keep people working.”  Since when do small business owners fantasize about government handouts?

Here is the worst part. Joseph Tirella ends his article with; “And what’s wrong with that?”  Short answer, everything.  What really scares me is that Fortune magazine would publish such a condescending article based on a couple business owners who should probably be employees somewhere rather than hoping for government money.

Truth is, not every business should be in business.  If this owner is struggling enough to wish for free money from Uncle Sam, it's time to close the doors.

Small business owners will contribute to our economic rebound the way we always have, not by wishing for money from President Obama.

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