Just when things seemed to be looking up for the economy, a new report released Tuesday by the National Federation of Independent Business reveals small businesses across the country are struggling to break even. The report goes also says bleak prospects have forced many small businesses to hold off hiring new employees, as they struggle to maintain their current work force.
Small businesses employ about half of the American workforce, an important fact when you consider the potential chain reaction of this news: no new hiring means no new spending, no new spending could spell a longer, deeper recession.
Joining us in a round-table discussion on their small businesses are Frank Goodnight, the president of Diversifed Graphics Inc. in Salisbury, N.C.; Doug Pettigrew, owner and operator Electronic Brain Solutions in Wyandotte, Mich.; and Marva Allen, owner of Hue Man Bookstore in Harlem, N.Y.
Why We Stay When We Know We Should Leave
The IRS Scandal: The Criminal Investigation, Afghanistan and the Struggle to Walk Away, Does Medicare Part D Care About Safety?
Devastating Tornado in Oklahoma City, What James Rosen Case Says About Freedom of the Press, Syrian Conflict Deepens
Tornadoes Tear Through the Midwest
Star Trek: Past, Present and Future
The show is a co-production of WNYC Radio and Public Radio International, in collaboration with New York Times Radio and WGBH Boston.
Major funding provided by:
Comments [2]
Less taxes, less regulation and more tort reform would cause rapid growth and hiring but all of that is contrary to the administration's economic strategy and they are staunchly unwilling to change course. Even if small businesses somehow enjoyed six months of profit this year the government will be there next year to punish their success.
Politicians, economists, and pundits seem to be ignoring the obvious. The biggest customers for small businesses are Big Business and their employees. That supplier and consumer business dries up when Big Business ships their jobs overseas. The old multiplier effect is approaching zero.
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.