Government should set the rules so that lending institutions do not plunder the borrower, but that is as far as it should go.
Government should not tell lending institutions to lend to a specific group of people or a specific industry. That is not the place of government.
Government simply needs to set the rules and get out of the way.
Lending institutions need to compete for the small businessperson. The small businessperson needs to prove that the business model that they are operating is potentially profitable to ‘win’ the loan they seek.
The consumer plays a huge roll in seeing that a business stays competitive within the market by casting their votes with their dollars they spend or not spend with the particular business.
A simple formula that works every time that it is tried.
It is my opinion that the government is simply seeking to take control of the business market so that they can ultimately profit from it and steer it any which way that they choose.
One thing is for certain. A new business environment is looming and it will be the creative businessperson that will win in this new market.
Keep a close ear to the upcoming news and seek out a competent and aggressive accountant that can help steer you in the right direction.
Don’t wait until the laws have changed. It may be too late by then.
Prepare now for what lies ahead.
Sunday, November 15, 2009
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