In what is not particularly surprising, February jobs data shows continued losses. And, equally unsurprising, small business and medium sized business were the categories that suffered the most. The Financial Times reports on the losses according to business size:
Mid-sized and small businesses suffered the most job cuts last month,
shedding 314,000 and 262,000 workers respectively. Large companies –
those with more than 500 employees – cut 121,000 jobs.
shedding 314,000 and 262,000 workers respectively. Large companies –
those with more than 500 employees – cut 121,000 jobs.
This offers continued evidence that more needs to be done in order to help small business owners survive. Even though the "big guys" are in the news a lot, the fact of the matter is that small business and medium sized business does most of the employing in this country. Perhaps its time to focus on bolstering the smaller businesses so that they do not have to keep making layoffs.
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Add to:
There are 25 million registered businesses in the USA. 21 million of them have less than 5 employees.
Screw bailing out the big companies! If 21 million small businesses just did 10% better this year, the economy would NOT be in freefall.
And why do we use the DOW and the S&P500 as the sole measures of US economic health? What about the 21 million small businesses out there? They aren't a part of the economy?!?
Their are more important than these large companies on both those lists are getting bailouts… and what does it do to the value of the DJIA if 1/3 of the companies on that list get a bailout?
That's why I work for Biznik. (Plug. Plug. Plug.)
I think small businesses are the ones that will save the US economy, and that is why I am putting my heart and soul behind Biznik.
Bah on big companies.
Bah on government bailouts.
Get outta the way and let small businesses boom!
- Christian
Posted by: Christian | March 4th, 2009 2:33 pm |
I disagree. Small business is vital but the global economy and almost every important advance in technology we have seen depends on big business. Big businesses create the economic growth that allows everyone else to prosper. It is not always the evil that everyone keeps making it out to be.
Posted by: owain | March 5th, 2009 2:15 am |
I also have to disagree. I do feel for small business owners (and I am one myself). But I don't create jobs. I don't open plants, or keep a thousand/five thousand/ten thousand people employed and enrolled in health care plans and paying taxes. At my best, I can support maybe one or two people. I can't offer health care. I can't offer a lot of what people think makes a job "good" because my business model won't sustain it.
If everybody was a small business, there would be no employer-provided insurance. No OSHA regulation to provide safer workplaces.
Big companies really do provide an extremely important component to the economic puzzle. So does small business, but … saving my business isn't the lever that will move the rock.
– R.
Posted by: Roxanne | March 5th, 2009 6:59 am |
I agree that big business is important to the economy, but the importance of the smaller businesses should not be overlooked. Layoffs from smaller companies have a cumulative effect. And there are plenty of small to mid sized businesses that employ between 50 and 450 people. And these folks offer health care and what-not.
Posted by: Miranda Marquit | March 5th, 2009 10:35 am |