HELP FOR SMALL BUSINESSES OR JUST MORE HOT AIR?

From my job as a consultant at Silkin Management Group, I continue to monitor and read about what is happening with small businesses as part of the economic recession we are experiencing. On November 4th my colleague Bill wrote an article on one of Silkin’s blog sites about how, despite the governments statements to the contrary, small business lending is still not happening.

Here it is, two weeks later and, with even more government pronouncements about how the bailed out banks are suppose to now be helping small businesses, per this article from CNN, very little is still happening. Small Business Loans Evaporate

My clients at Silkin and I discuss this not infrequently. How come, we ask, do these huge banking conglomerates that have made bad business decision after bad business decision and get bailed out by our tax dollars, do nothing to help the small businesses that employ the great majority of people in this country. How come the government who give them all this money does nothing effective to help, despite whatever they may be saying.

I’m not making this up. Per the author of this article, “Eight months after President Obama began prodding the nation's banks to increase their small business lending, the loan numbers continue to move in the opposite direction. The 22 banks that got the most help from the Treasury's bailout programs cut their small business loan balances by a collective $10.5 billion over the past six months, according to a government report released Monday.”

It must be nice to get a lot of money to save your business and do nothing to help other businesses, even though lending money to help businesses is the essence of what you do. I guess I’m just jaded.

If anyone reading this blog has any ideas or comments about this, I’d love to hear it. In the meantime, if you need any help with the management of your business or practice, contact us at Silkin Management Group.

We can be reached by:
Email:info@silkinmanagmentgroup.com
Website:silkinmanagementgroup.com
Blog: silkinmanagementgroup.blogspot.com

Jack Hennessy
Consultant
Silkin Management Group