Over the course of the last 5 years as an entrepreneur I have successfully launched, managed, and sold off several businesses. Each organization started has added some value to my understanding of the business world today. My philosophy has been that 9 things out of 10 that I try will fail, but that golden one is always worth the battle. In my experience that has proven to be the case and my successful businesses still operate today under the management of those whom I have sold off to. The latest project is Initial Underwriting Group, a corporation comprised of two concepts: 1) business credit building and 2) business loan underwriting.
Everywhere you look people are talking about layoffs, bailouts, and the horrible economy that we are in. Is this going to stop?
The bigger question is whether the bailout proposals are going to work?!
For that we put up a blog, for regular people like you and I to put up our opinions on this bailout situation - www.bailoutopinion.com.
Take a look at www.bailoutopinion.com and put up your story, let's see if we have similar views or not.
Just this morning I heard that Best Buy is offering buyout settlements to their employees.
Best Buy? What? How is the electronics retailer king being hit as bad as the auto industry, what in the world is happening?!
GM and Ford are not getting what they want, and are we officially done with the $700 billion and Citi Group?
I don't know about everyone else, but my head is spinning with the amount of bailouts that are going on. Auto industry, California, small businesses, big businesses, banks, and more to come I'm sure. The worst thing is that this is the holiday season and people are being laid off.
Solutions....let's talk about what can be done - will Obama pull off the next FDR? We all hope so, and now more than ever he has everyones support - just solve the problem!
From a small business owners point of view, small business financing is essential. Smaller banks and other lending institutions are still out to do business financing, some confidence needs to be reinstilled back into the small business owners. The real uncertainty is with the consumers, will anyone start spending and stop worrying? 2009 is not looking to be a great year, but if we all gain some confidence and get back to borrowing and spending things should pick back up, right? Stay tuned.
Sincerely,
Ilya Bodner
Small Business Owner
Initial Underwriting Group
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