Small biz owners to President: Not good enough
Thursday, June 25th, 2009Author : Biz2Credit Advisor
It’s traditional to rate a new administration at the conclusion of its first 100 days in office.
But the Obama administration might want to take a closer look at how they are faring with small business owners.
A new survey highlighted in an April 13 edition of Bizjournals found widespread displeasure with the president among small business owners.
Nearly 60 percent thought the president didn’t understand the needs of small firms and more than 40 percent were less optimistic about the national economy than before President Barack Obama took office, the survey said.
The Internet survey was conducted in March by City Business Journals Network and involved interviewing 301 CEOs and presidents of companies with five to 499 employees. Follow up phone interviews showed clear anger over the federal bailouts.
Pat Moore, owner of a private-duty health care firm in Kansas, worried about the specter of inflation, while others believed the large bailouts set a terrible precedent.
Several small business owners said even huge companies should be allowed to fail.
“If you didn’t run your business properly and you can’t survive, go away and let the strong survive, because that’s the way it’s always been, and that’s the way it should be,” Ronnie Nudelman, owner of a Buffalo printing company, told City Business Journals Network.
Not every review was negative.
One small business owner gave Obama credit for reaching out to small businesses to try to understand their needs, the report said.
Naturally, other concerns included loosening the credit market and that perennial small business woe — the high cost of health insurance.
The survey found that two-thirds of respondents were concerned that health care reform would mean higher costs for them.
This article was submitted by Kathleen O’Connor, a contributing writer for Biz2Credit. Biz2Credit is a small business marketplace that provides entrepreneurs with the latest industry news and financial advice. Send all questions to info@biz2credit.com.
Tags: bailouts, Buffalo, City Business Journals Network, health insurance, Obama administration
