View Poll Results: Should the US government do more to help people become small business owners?

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Thread: Should the US government do more to help people become small business owners?

  1. #21
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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by MildSteel View Post
    One thing that I think conservatives should do, if they really want to promote the notion of self sufficiency, is to create, implement, and promote policies that are designed to help Americans who are attempting to start small businesses. Part of the problem for small business owners, even those that are established, is that credit has become more difficult to obtain. This in turn has the effect of depressing demand because there are less people with money than there would be if credit was more generous. Here's an interesting article:

    Why Small Business Lending Isn’t What It Used to Be

    I think the party that championed policies that made it easier for people who are starting a business to obtain the financing they need, as well as other assistance such as giving advice about the best suppliers of various products, and demographic analysis, would be a very attractive position for people to buy into.

    What do you think? Should the US government do more to help people become successful small business owners?
    Reducing federal borrowing/spending/taxes would free those funds to be borrowed by (invested in or spent at?) private businesses. Taking from some to help others sounds wonderful only if you trust the government to make much wiser decisions than they have shown to make so far.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  2. #22
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    ttwtt78640's Avatar
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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by MildSteel View Post
    What I have in mind with inventory loans is simple. Let's say you have started a small business and have invested $20,000 of your own money in inventory. The government could then make an inventory loan of 10 percent of that, or $2000 to you. If you pay that back in a responsible way, you would qualify for $4000. Pay that back you qualify for $8000, etc. I really don't see why that would be a big problem.

    See Solydra.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  3. #23
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    tres borrachos's Avatar
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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by MildSteel View Post
    Well small business loans are certainly NOT easy to get. Let me ask you, because your appear to know something about it, why is it so difficult for financial institutions to write a small business loan?
    It isn't hard for them. They will give loans to credit worthy borrowers.

  4. #24
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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by MildSteel View Post
    What I have in mind with inventory loans is simple. Let's say you have started a small business and have invested $20,000 of your own money in inventory. The government could then make an inventory loan of 10 percent of that, or $2000 to you. If you pay that back in a responsible way, you would qualify for $4000. Pay that back you qualify for $8000, etc. I really don't see why that would be a big problem.
    The government should not be in the lending business.

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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by ttwtt78640 View Post
    Reducing federal borrowing/spending/taxes would free those funds to be borrowed by (invested in or spent at?) private businesses.
    Reducing federal expenditures and taxes does not necessarily translate into money being made available to private businesses. The banks have to be willing to lend.

    Quote Originally Posted by ttwtt78640 View Post
    Taking from some to help others sounds wonderful only if you trust the government to make much wiser decisions than they have shown to make so far.
    Loaning money too small businesses is not necessarily taking money from some to help others. If the money is paid back with interest, that is not the case.

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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by ttwtt78640 View Post
    See Solydra.
    Solyndra was not a small business in my view. A company that has over one hundred million dollars in annual revenue is not a small business.

    But that aside, one problem that Solyndra had was manufacturers in China started saturating the market with relatively cheap panels. I really think that the government can play a role in leveling the playing field through tariffs and taxes in that case.

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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by tres borrachos View Post
    It isn't hard for them. They will give loans to credit worthy borrowers.
    '

    So what did you mean exactly when you said that a small business loan was one of the hardest for a financial institution to make? I would be interested to know exactly what makes it so hard, of that is indeed the case.

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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by tres borrachos View Post
    The government should not be in the lending business.
    In an ideal world they should not be. But obviously we are not in an ideal world and the government does indeed engage in guaranteeing and making loans to businesses. And I'm saying that since that is the case, they should do more to make it easier for people who are trying to start a small business to get financing. If the banks won't do it, the government should step up to the plate.

  9. #29
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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by MildSteel View Post
    Reducing federal expenditures and taxes does not necessarily translate into money being made available to private businesses. The banks have to be willing to lend.



    Loaning money too small businesses is not necessarily taking money from some to help others. If the money is paid back with interest, that is not the case.
    Credit risk analysis requires expertise and having skin in the game. The failure rate for small businesses is my concern, as well as nonsense like "minority owned" or "enterprise zones" being a consideration when choosing who "deserves" our (the taxpayers) special help. I have serious doubts that a DC bureaucrat knows more about any local small business operation's chances of success than current area banks/credit unions do.

    Startup Business Failure Rate By Industry | Statistic Brain

    Why Small Businesses Fail: Top 7 Reasons Startups Fail and How to Avoid Failure
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

  10. #30
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    Re: Should the US government do more to help people become small business owners?

    Quote Originally Posted by MildSteel View Post
    Solyndra was not a small business in my view. A company that has over one hundred million dollars in annual revenue is not a small business.

    But that aside, one problem that Solyndra had was manufacturers in China started saturating the market with relatively cheap panels. I really think that the government can play a role in leveling the playing field through tariffs and taxes in that case.
    You attribute the failure of Solyndra to gov't actions (tax policy) while wishing the gov't to invest "wisely". Much of that Solyndra revenue was due to gov't provided incentives (tax policy) that made no mention of the country of origin to qualify for those credits. Once we start allowing the gov't to give tax preference to its own business investments then we are firmly into crony capitalism.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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