How is the Financial Crisis Affecting Your Small Business? Let’s Talk…
As we all know, there is a Big Problem with all the Giant investment banks and real estate tycoons, causing home foreclosures, etc. etc. The US Government was/is going to step in to bail out these failing businesses for their own short sited stupidity in selling (yes selling) Bad Loans to the consumers with balloon payments for mortgages and the like.
It has affected me personally mostly to the extent that my clients are more hesitant in using and paying for my consulting services until things break open a bit lot, so far. It has affected a lot of my friends and neighbors much more, some of whom stand to lose their homes because they were bought or refinanced recently during this artificial housing market fiasco.
My intent here is not to rant about the current problems on Wall Street (and other World Markets), but to try to start a conversation with other small business owners about the effect it is having on your businesses.
As I mentioned earlier, the effect on my business is that my clients don’t want to spend money on something that can wait until things settle down, but mine is a one man operation. How about those businesses who have 2, 5, ten, a hundred employees? Are you faced with laying off people? Do you have a plan to save their (and your) jobs? Has it affected your retirement plans? Your future growth ideas?
Let’s talk about this, I think it’s more important to us than to the Greedy Gargantuan Money Grubbers who caused this problem. They are being bailed out, we are not.
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