The small biz plans I've been hearing are NO HELP to the small biz. I own 2 small businesses, with a total of 24 employees. One of the businesses has programming staff that works remotely, only, so no problem. The other business is a manufacturing company with 20 employees and tight margins. We primarily manufacture goods for constructio…
The small biz plans I've been hearing are NO HELP to the small biz. I own 2 small businesses, with a total of 24 employees. One of the businesses has programming staff that works remotely, only, so no problem. The other business is a manufacturing company with 20 employees and tight margins. We primarily manufacture goods for construction projects where the ultimate project owner is the Army Corps of Engineers. Since our products are custom for each installation, we have no inventory. If our team isn't working, we aren't making any money, just like a restaurant. Loaning me money to pay employees while they aren't working isn't going to help one bit. Since we are in construction, we have regular layoffs, as any construction outfit does, depending primarily on weather and political decisions. When work stops, my workers stay afloat through the unemployment system. We offer a great benefit package for a small company with paid vacations, paid holiday's, health insurance plan, accident insurance plan, life insurance plan, and 401K plan. Keeping up with the benefit payments for the employees while they are on layoff is hard enough, but burdening my with also keeping up with payroll is just the type of assistance I cannot afford. Later when the workers are back on the job, and those loans come due, even at zero interest, the margins are not sufficient enough to double my labor overhead and remain afloat. Its just that simple. A more reasonable assistance to small biz would look something like: 1. Take care of the employees on layoff by propping up the unemployment systems of the states and not requiring affected workers to have a multi-week delay prior to receiving benefits
2. Assist the businesses with fixed overhead, NOT SURE what this would look like...still the Peter and Paul issue of borrowing from future proceeds. These fixed overhead issues would be enough to put small biz under in and of itself, so this is where the assistance is needed.
I'm sure there are other things that would be more reasonable than a loan.
The small biz plans I've been hearing are NO HELP to the small biz. I own 2 small businesses, with a total of 24 employees. One of the businesses has programming staff that works remotely, only, so no problem. The other business is a manufacturing company with 20 employees and tight margins. We primarily manufacture goods for construction projects where the ultimate project owner is the Army Corps of Engineers. Since our products are custom for each installation, we have no inventory. If our team isn't working, we aren't making any money, just like a restaurant. Loaning me money to pay employees while they aren't working isn't going to help one bit. Since we are in construction, we have regular layoffs, as any construction outfit does, depending primarily on weather and political decisions. When work stops, my workers stay afloat through the unemployment system. We offer a great benefit package for a small company with paid vacations, paid holiday's, health insurance plan, accident insurance plan, life insurance plan, and 401K plan. Keeping up with the benefit payments for the employees while they are on layoff is hard enough, but burdening my with also keeping up with payroll is just the type of assistance I cannot afford. Later when the workers are back on the job, and those loans come due, even at zero interest, the margins are not sufficient enough to double my labor overhead and remain afloat. Its just that simple. A more reasonable assistance to small biz would look something like: 1. Take care of the employees on layoff by propping up the unemployment systems of the states and not requiring affected workers to have a multi-week delay prior to receiving benefits
2. Assist the businesses with fixed overhead, NOT SURE what this would look like...still the Peter and Paul issue of borrowing from future proceeds. These fixed overhead issues would be enough to put small biz under in and of itself, so this is where the assistance is needed.
I'm sure there are other things that would be more reasonable than a loan.