Coming on the heels of our Presidential Election Survey results, where Senator John McCain was favored 54% to Senator Barack Obama's 36% by small business owners, Obama over the weekend released a small business rescue plan. The plan would help out small businesses hurt by the financial crisis and would essentially offer tax incentives and loans from the U.S. Small Business Administration.
Obama was quoted as saying in this CNNMoney.com article: "Small businesses employ half of the workers in the private sector in this country, and account for the majority of the job growth. But we also know that a credit crunch has dried up capital and put these jobs at risk - shops can't finance their inventories, and small firmes can't make payroll. If we don't act, we'll be looking at scaled back operations, shuttered shops, and laid-off workers."
There are some questions as to whether this plan would actually work, considering banks have already become more reluctant loaning to small companies. Read the full article here and feel free to weigh-in on on the comment board. There was a tremendous response to the MerchantCircle survey results, found here, that showed small business owners feel VERY passionately on both sides of the fence.