The American Small Business League is warning that President - elect Barack Obama is preparing to make significant changes in federal contracting laws that will allow some of the nation's wealthiest investors to receive federal contracts earmarked for small businesses.
The League says the new pro-venture capital policy could virtually repeal the Small Business Act for legitimate American small businesses by modifying the federal definition of a small business as "independently owned."
Under the proposed Obama Administration policy, "independently owned" will be changed to include firms that are not independently owned, but are actually controlled by wealthy investors and possibly some of the nation's largest venture capital firms.
If the policy is successfully implemented it could force the average American small business to compete head-to head with firms controlled by wealthy investors for even the smallest government orders for goods and services.
"The easiest and quickest way to stimulate our nation's failing economy is for the government to spend infrastructure funds with America's 27 million small businesses that create all the new jobs and employ most Americans," American Small Business League President Lloyd Chapman said.
"This new Obama policy will do just the opposite and will push our economy closer to a depression by diverting billions of dollars in federal funds away from middle class America and into the hands of small number of wealthy investors that backed Obama."
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Wait and See
Really hope that the new administration do something positive to help the growth of the whole economy. But, we all will have to wait and see.
ASBL
Lloyd Chapman, president of the ASBL, said in a statement, "In my life, I have never been more excited about any politician than I am about Barack Obama. I believe that he holds the key to a new future for all Americans. I believe that with Sen. Obama in the White House, Americans are going to be more proud of this country than they have ever been in their lives."
"The easiest and quickest way to stimulate our nation's failing economy is for the government to spend infrastructure funds with America's 27 million small businesses that create all the new jobs and employ most Americans," American Small Business League President Lloyd Chapman said."This new Obama policy will do just the opposite and will push our economy closer to a depression by diverting billions of dollars in federal funds away from middle class America and into the hands of small number of wealthy investors that backed Obama."
O.K. I'm confused if the ASBL is concerned about the proposed policy to redefine small business then why were these statements made by Chapman first praising then dressing down. Personally I'm very concerned about the incoming president -elect and his policies. I don't understand how change is going to come from the same group of good ole boys.
I'm a small business owner who struggles every day to feed my family. Will I now have to compete with mega corporations? I'm sorry, but if this is the change we were promised, I don't need it.
This new Obama policy will
This new Obama policy will do just the opposite and will push our economy closer to a depression by diverting billions of dollars in federal funds away from middle class America and into the hands of small number of wealthy investors that backed Obama
This new Obama policy will
This new Obama policy will do just the opposite and will push our economy closer to a depression by diverting billions of dollars in federal funds away from middle class America and into the hands of small number of wealthy investors that backed Obama
ASBL Endorsement
The American Small Business League issued an endorsement of President-elect Obama during the democratic primary and remained a supporter of the Obama campaign in the time running up to the election. However, it appears that President-elect Obama and the Obama-Biden Transition Team have backed away from their promise to, "end the diversion of federal small business contracts to corporate giants." Small businesses are the backbone of our nation's economy. 98 percent of all American companies have less than 100 employees, 89 percent have less than 20. Small businesses deserve to be a priority and thus far President-elect Obama has failed to demonstrate that small businesses are a priority for him and his incoming administration.
thanks dan
Thats some great info and a wonder article about Obama's plan for small biz
The economy
Oh, yeah! Well, we all know NOW why the economy is DOWN!!! Small businesses are causing clients to spend their money on things that are not essential!
Why can't 98% of all-American Companies take good care of their clients, so they will beleive again to go out and buy massively???
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