Speeding Up The Economic Recovery
I just listened to an interview of Fred Smith, Founder of FedEx, concerning the economy. He's optimistic as his company has seen an increase in all business sectors the past few months. Our company has also seen this uptick.
The economic numbers are starting to perk up, and most economists agree that we are now in positive territory and the greatest economic downturn since the Great Depression is over. Now, it's time for a slow recovery. The question is: How can we speed this recovery?
Historically, consumer spending and small businesses have fueled recoveries. Hopefully, consumers will start spending.
As far as small businesses, you can count on their help only if we can get liquidity into the marketplace. Tight lending has caused many businesses to stop growth plans and others from starting businesses at all. Home equity lines were always an entrepreneur's ticket to living the American Dream. Well, tight credit and a depressed housing market have made this one of the most difficult times for small business owners.
If small business is going to play a role in this recovery, more credit is a must.
--Ron Ameln, SBM