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July 17, 2009

Small Business Signs of the Apocalypse (or at least foreshadowing the future inability to receive credit lending)

While small businesses provide about half of all private-sector jobs according to the SBA, they generate approximately 3/4th of all net new jobs every year over the past decade. These two news major news stories don’t bode well for small business owners looking for credit anytime soon:

  1. CIT, the lending group that has made over 950,000 loans to small businesses – the largest in the US by the way, has been denied help (Lending giant CIT on brink after bailout talks fail)
  2. Small Business Groups Blast Job-Killing Tax Hike

And in Mark Cuban’s latest blog post he makes a great point, “If(Cash In < Cash Out)= You are (now) a Consultant.”

Posted at 04:08 PM |

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Comments

Justin Downey

This is an impression shared by most small business owners. The key to the (as yet) potential problem of tight lending practices is to spend time now building a longer-term sales pipeline and generating recurring revenue for a year term at minimum.

In other words, if (Cash in) < (Cash out) = you have an underlying problem you can't just blame on the banks' lending practices.

Posted by: Justin Downey | July 18, 2009 at 09:53 AM

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