When the Going Gets Tough...Start a Business


When the Going Gets Tough...Start a Business

By Tim Devaney and Tom Stein
June 25, 2009

A new study by the Ewing Marion Kauffman Foundation suggests that the best of times really are the worst of times. Or vice versa. Titled "The Economic Future Just Happened" (whatever that means), the Kauffman report found that half the companies in the 2009 Fortune 500 and half of 2008’s fastest-growing companies were started in a recession or bear market. "New firms create new jobs and fuel our economy," says Kauffman CEO Carl Schramm. "Policies that support entrepreneurship support recovery."

Big business gets stimulus, small business gets the shaft. So is the Obama administration doing what Kauffman CEO Schramm suggests, fueling entrepreurship? Hardly. As noted in this segment from CNBC, of the $800 billion in taxpayer money pumped into the economy, a paltry $1 billion is going to small businesses (which create 95 percent of new jobs in the U.S.). Kinda scalds your coffee, doesn’t it? It sure makes Lloyd Chapman bitter. Chapman is president of the American Small Business League. Watch him in the video linked above, going at it with U.S. Chamber of Commerce (i.e. big business) mouthpiece Giovanni Coratolo. Chapman wants to stop Small Business Administration contracts from going to Fortune 1000 firms. Coratolo wants to keeping the gravy train on track. Or, as Chapman puts it: "The Chamber doesn’t represent small businesses any more than McDonald’s represents cows." (You go, Lloyd!)

Check out the SCORE Community. No, it’s not a social network for swingers. It’s a new online community for small-business people. SCORE Community is run by the organization of the same name--the nationwide group of executives and business owners who donate wisdom to entreperneurs. SCORE Community is free to join. Once you do, you can ask for advice, search space for lease, connect with business partners, find businesses for sale and more. Who knows? You might even meet the love of your life. Anything’s possible.

Adult stars laid off? People have long said pornography is one of the two ironclad recession-proof businesses, the other being food. It’s not true. As San Fernando Valley blogger Wyatt Shev reports, the bottom has dropped out of the adult film industry, forcing a lot of adult "actresses" and "actors" to go out and find real work. (Ouch. See you at Del Taco.)

Source: http://www.allbusiness.com/economy-economic-indicators/economic-conditions-recession/12372497-1.html



Submit a Comment