October 6, 2008
After last Friday's passage of the $700 billion bailout measure, there are still plenty of skeptics who argue there are smarter alternatives. Some critics argue that we are forgetting our country's core business identity: the small business.
John Jantsch at Duct Tape Marketing writes: "How small business makes money, who they serve, when and where they work has little to do with the Dow Jones Index - a fatally flawed gauge of just 30 companies. Forget the Dow and focus on these numbers instead - lead generated, leads converted, average $ per transaction, average number of transactions per customer - and the turnaround will get underway."
The numbers: Over the last six months, large businesses have lost more than 170,000 jobs while small businesses saw over 200,000 jobs created during that same timeframe. According to the ADP National Employment Report and ADP Small Business Report, new data shows a continuation of this trend. In September alone, small businesses added 28,000 jobs.
Comments | 6 Total
October 6, 2008 at 4:27pm by Brendan Collins
The US economy is built on small business, in that that's how most people get a paycheck. But what happens when entrepreneurs looking to start their own business can't get a loan? I think that's the unfortunate reality that we now face. I expect new jobs to stagnate, if not drop, in the coming months, and that's mostly due to the dropoff in new small businesses created.
October 6, 2008 at 6:05pm by Jeffrey Meier
Ummmmm hello? Of course small businesses are the backbone of the economy! The huge majority of Americans work for small businesses, so do the math - if there aren't any small businesses, then what becomes of the backbone? What takes over? Corporations? Gimme a break.
October 6, 2008 at 9:09pm by Bailey King
The mortgage crisis did set up a grim future for loan-based enterprising, however, one should not overlook the power of investment corporations---venture capitalism has created the likes of Microsoft and Intel. These investment chains are a part of every industry and present untapped opportunities for bio-tech, eco-energy and other green technologies, new media, agriculture and other traditional industries. So can a new corporate take-over be sustainable? Who's ready?
October 7, 2008 at 12:45pm by Paul Travis
Of course, just like most of the world disagrees about what MARKETING really means... there is lack of consensus about what SMALL BUSINESS means just as much as ECONOMIC RECOVERY.
pt
October 9, 2008 at 6:09pm by david wayne osedach
The dow is below 9,000.
What better time to think of helping small businesses which are falling like flies?
October 12, 2008 at 11:09am by Raul Gomez
Of course Small Business is the back bone of America. I have a small Business and I like to hire people when I film motion pictures here in Hollywood.