Short-Term Solution Components to the Financial Crisis

Well, we certainly hear a lot about the mighty corporations, their employment base and strength and what it means to our economy. But make no mistake this great nation's citizens are also gainfully employed in small businesses. In fact, over 70% of our work force is employed in small business and 10% of our population owns their own small business.

One thing we can do right now is help our small businesses survive and thrive is to remove the barriers and insane costs caused by the bureaucracy. We need immediate relaxing of regulation for small businesses. I propose a "Red Magic Marker" committee in every city, county, and state, that will go through the immense amount of debris of rules and regulations and red-lining them for deletion.

Merely freeing up credit markets is not enough, offering tax incentives is not going to help much, as most small businesses are making very little right now anyway. Additionally, very few small businesses are considering buying new equipment or expanding right now. So, even though there maybe few opportunities to borrow it makes no difference, as the small businesses are cutting back to the bare bones.

What does this mean? It means not only are they not expanding, they are laying off their workers, and preparing to hunker down for a much longer recessionary period than once thought. Including all of 2009 and most of 2010, and whereas, the recession may not last that long, it does appear that the small business community isn't taking any chances.
Want to fix the economy? You had better start with small businesses first. So, think on this.