The Small Business Fallacy

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Why Small Business Isn’t Likely To Save the Economy

Small Business fawned over by Obama and Romney: Both Wrong

It’s a common enough theme, another press conference and another announcement that Mitt and Barrack are going to save the world (and us too in the process), by massaging the tax levels that small businesses pay. This in turn will cause us all to rush, lemming-like, into the chasm labeled small business start-ups. That in turn is going to create massive job growth that will fuel the sasquatch economic turnaround that will see us pay down our national debt, solve world hunger and bring North Korea and Albania into the world of western style democracy. I refer to the economic recovery as being a sasquatch, because like the hairy beast it is much talked about, but seldom seen.

small business

Forgive me if I sound skeptical and a tad cynical, but I believe both men are right but for the wrong reasons. With few exceptions, tax rates and incentives do not drive small businesses either into or out of existence. They do, however, have everything to do with the movement of large corporations and their decisions to place manufacturing centers and even headquarters in tax favourable locations. Sometimes to the extent that they will move right offshore and set up shop there. Small business tends to start where the entrepreneur lives. Very few people will say ‘Well, I’ve researched the numbers carefully and is seems that there is a shortage of muffler repair shops in Gallup, NM so me and the missus is packing up the U-Haul and headed out there to make our fortune.’ It just doesn’t happen that way.

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Instead, it is more often a case of Joe Six-Pak, looking around at the job prospects and seeing them dwindle, or maybe not having enough money after he gets his pay-check, that inspires him to look at starting up a small business to earn a few bucks on the side. Or it may be his wife Jean that begins a career in direct sales or network marketing that gets the ball rolling. With all due respect to Barrack and Mitt, their policies on taxation have almost zero to do with it. Where they are right, however, is in the identification of small business as being the most likely economic engine to help grow us out of the deep hole that we have plunged into.

Clearly big business cannot grow easily due to global competition, especially in manufacturing, and it will be difficult for it to hang onto the jobs that they currently have. Increases in natural resources and agriculture jobs will barely offset the continual offshoring of existing jobs. No one, not even the most left leaning socialist, is foolish enough to think that increasing government payrolls is any kind of a solution. All they have to do is look at Greece as an example of how that will turn out. And yet, here we are, poised at the edge of our own financial cliff. There isn’t any time to lose for Joe and Jean. The sooner they can start a business that provides real goods or services, the sooner they can have their future in their hands. It’s better than waiting for Barrack or Mitt to bail them out. It’s not going to happen.

When are YOU going to create your own future?

Till Next Time….

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Sigrid McNab

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Email: sigridmcnab@gmail.com

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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4 Responses to “The Small Business Fallacy”

  1. Dagmar Wichary Says:

    I have started in a health related small business ,can set my own hours and work from home and just love it

    [Reply]

    sigrid Reply:

    Nice work Dagmar!

    [Reply]

    Reply

  2. Sea Isle City Rentals Says:

    Not a bad way to start a day, quality blog post :)

    [Reply]

    Sigrid McNab Reply:

    Thank you very much. Glad that you enjoyed it!

    [Reply]

    Reply

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