Here’s a link to an interesting article in Business Week about the ups and downs of being self-employed and owning/operating a new business over the past 4 or 5 years.  There are a bunch of interesting statistics describing how people have been forced into starting their own businesses but have struggled through the process.  The article is extremely relevant to the core of our business which is all about helping small business owners save money, acquire working capital, and sustain a working business.

This article takes the angle of looking at the importance of creating jobs by assisting new businesses in opening and staying open, something our economy has not done a very good job at over the past 5 years.  I highly suggest any small business owners or entrepreneurs take a look at this and consider the available funding options and take the necessary steps to ensure you’re able to stay on your feet.

Here’s an article from the New York Times about the struggles that the nations major banks are dealing with.  It’s a good article that touches on the low lending levels.  I find it interesting that the author more or less cites fear as the reason lending is down, blaming business owners who are too scared to take loans to expand and are more concerned with standing fast and steadying the ship.  While this may be true to a degree, with interest rates being held low for at least the next couple of years, it’s the perfect time to be taking out a loan, and there’s an angle here that the author fails to cover in regards to the fear of banks to put money on the street.

It’s important to note that while the major banks are suffering, independent lenders are thriving as a result.  We are pleased to say that our business has continued to grow in light of the economic hardships simply because there is real need out there for working capital and for business loans.  We’re still catering to the needs of the American business owners and have no plan to stop doing so.  If you fall into the category of someone who has looked for a loan from your local bank and been declined, then contact us.  Let us help you meet the right lender and you’ll be back on the track to success in no time.

Here’s a link to a nice article from businessweek.com about the current outlook for restaurants and other food service businesses for the future.

Earlier this month, the appeal for a a two year stay on the Durbin Amendment to analyze the potential effects the debit interchange fee cuts could have on the greater US economy was denied.  Since then, a flurry of concern has taken hold of the industry as the major players attempt to reconfigure projections, and prepare for the worst case scenario.  The Green Sheet is doing a fantastic job covering the saga and so I’m not going to attempt to report on everything myself, but instead will provide a link to the greensheet’s coverage of the issue.

It is clear that change is coming, what is unclear is exactly the form it will take and who it will affect most.  The next few years promise to be very interesting for the card payment industry and the greater banking industry in general as debit interchange will have a monumental affect on the options available to consumers and the cost for utilizing these options.  It is only a matter of time before we start to see these changes come full force.

Here’s a link to an interview in businessweek with a “business turnaround expert.”  His company steps in and assists banks and small businesses when times get tough, an interesting business and clearly one that many people need right now.

The article discusses strategies of how to deal with too much debt and reduced cash-flow.  Interestingly, the interviewee makes it sound like his main function is to get the bank and business communicating with one another.  The funny thing is that this seems like it would be the easiest thing to do, but business owners are afraid of facing their lenders when they aren’t able to make scheduled payments or are having trouble with cash-flow.  This fear forces business owners to scramble and look for cash flow solutions in unlikely places.  Or they stop paying altogether and prepare to face the worst, but oddly enough, rarely do business owners stop to think that perhaps their bank will help sort this out with them.

And so, the “business turnaround expert” states that the most important function they serve is to facilitate communication between the parties so everyone knows where everyone else stands.  They are hired by both banks and business owners to assist in handling situations involving outstanding debt, which I found interesting.  Generally, companies that specialize in debt consolidation or collections, which is different than what these guys do but still along the similar vain, market their services to one side or the other.  It is intriguing that they are able to work with both sides and I wonder if their approach changes depending on who hires them.

At the end of the day, the article really drives home the point that there are plenty of people out there who are struggling.  Struggling to stay in business, struggling to make loan payments, struggling to make payroll, and struggling to take home enough money to live on.  No one should feel alone because of their struggles, and the truth is that there are people out there who are looking to help.  That might take the form of someone running a “business turnaround” firm specializing in helping people retain their cashflow and make smaller payments.  It may take the form of a lending company looking to offer working capital to business owners to stay on their feet.

The main thing I learned from this interview is that you have to have the courage to try and help yourself.  You can’t run and hide in the shadows and hope your problems go away, you have to face them head on.  Change is here and while many people may be uncomfortable with the changes that have occurred over the past few years, there is no going back, only forward.  So, look forward, and have the belief that brighter days are ahead.