Recent survey shows that many owners feel that they did
A recent survey in the City Business Journal Network
found that close to 60 percent of small business owners think the Obama
administration doesn’t understand the needs of small firms and that
more than 40 percent are less optimistic about the state of the U.S.
economy than they were when the president took office.
Though the majority identified themselves as
Republicans, that number also revealed nearly half of those surveyed
think Obama will only serve one term based on what he has accomplished
in the first 3 months of his presidency.
Much of the frustration that small businesses are
feeling comes from how the bailouts of banks and the auto industry have
overshadowed the needs of companies who are suffering from
irresponsible action of larger companies during this economic crisis.
The sentiment stems from the fact that all of the
bailout money may help larger firms tread water for a while, but that
money is not making it’s way to smaller companies.
Many feel Obama doesn’t understand that all it
takes is losing one client or having to wait on payments from other
clients for a small business to really suffer, or be unable to meet
Another frustration is that smaller businesses are
still having a hard time getting bank loans, preventing them from
expanding, hiring and growing their business.
Some owners are even calling for Obama’s
administration to require that banks loan money to smaller businesses
based on their credit history and existing debt, citing that businesses
that have been run well should be allowed to run things the way they
see fit, and businesses that are failing should be allowed to fail no
matter how large or small.
Those who continue to support Obama point out that
his administration is only 90 days in to dealing with a situation that
was handed to him and took initial steps that were necessary to
stabilize the economy and that more time is needed to see if this
administration has done more harm than good.
For more information about the survey taken and
insight in to how your small business might be impacted by recent
actions taken by the president, read the article Small Business: Obama Doesn’t Understand Us, click here.