So, what is small business? A small business may be the family business, or just a very small business---a dozen or so employees and maybe $1 million in revenue. Small retail shops, small service businesses, architects, contractors, tradesmen, lawn care... everything that America is all about, what our towns and cities are full of: micro small businesses. That's America. That's were the rubber meets the road. That's small business, and these are the people I am talking to.
These are the people paying more than their fair share of taxes and getting a lot less in return. They're the ones experiencing massively declining revenues and ever-increasing overhead and expenses. This is where the recession is grinding us to the bone, where debt is now so high compared to revenue that we cannot survive. This is where the recession lives, in reduced revenues, increased overhead and bone-crushing debt. Micro small businesses are our neighbors, our communities, our friends.
There is no revival at this level, just pain. The larger of the small businesses are beginning to rebound and that's good, but the corner store, the local community businesses, the mom-and-pop stores, craft stores, coffee shops, ice cream shops, etc. are all suffering and going out of business rapidly and daily. The pain is intense and families are at risk. Families, homes, children... all innocent victims of this cold-blooded recession.
Yes, the "too-big-to-fail" businesses were bailed out by our government using our tax dollars. The micro small businesses were left to pick up the tab but get no benefits because they are small enough to fail without bothering anyone. Cold.
So, it is up to us to take care of ourselves, and that is our mission at Second Wind. Showing you how to survive and even prosper, to emerge successful, regain position, preserve jobs and add more. Something must be done and bankruptcy is not the answer as it eliminates the business, the jobs and the income for the owners and the families of the employees who have now lost their jobs and everything else they have built.
The answer is self-help. We must downsize our businesses if possible, reinvent ourselves and, yes, do the loan workouts because debt is killing us all. Without debt we can learn to survive and even prosper in this rough economy. Ask any small business owner---small as defined here---how things are going, and they will tell you: awful. They are being sacrificed at the altar of this recession while our government bails out big business (the "too-big-to-fail") so they remain profitable.
Micro small business is where the help is needed most and there is none.
Call us, we have answers. We have strategies that work. Downsize, reinvent and work out your debt. This is the answer.
Call us at 413-584-2581. Norm will arrange a no-obligation teleconference to discuss your options. Help is on the way. There is no reason to fail, we can help.
Published by Don Todrin
Donald Todrin is the CEO and Founder of Second Wind Consultants, Inc. who specializes in SBA Loan Workouts, business debt forgiveness and solving difficult business problems in general. Don has authored... View profile
- SBA Loan Default: Do Not Water Down Your Mission, Specializing WorksA Don Todrin article on SBA Loan Default - If Ray Krock, the founder of McDonalds, had expanded his fast food concept to serve pie, and meatloaf, fish sandwiches, soup, etc., he would have been a diner;
- SBA Debt Forgiveness: When You Have a Minority Ownership of Real Estate, when in D...A Don Todrin article on SBA Loan Default - It happens frequently, you go into default on your primary SBA guaranteed loan, or any secured bank loan, and when the bank examines your financial statement and tax returns
- Business Debt Workouts: The Benefit of Your File Collecting Dust in a Workout Nego...A Don Todrin article on Business Debt Workouts - As discussed elsewhere, when negotiating a workout, it is best to present the highest and best offer you can that makes sense and is reasonable under the existing circu...
- SBA Loan Workout: Surviving the Downturn, Successfully Emerging!A Don Todrin article on SBA Loan Default - "It's been over a year and we all understand the recession is here to stay for a long while. There is little any of us can do about this fact of business life."
- SBA Loan Workout: You Are in Default and You Own a Valuable Minority Position in R...A Don Todrin article on SBA Loan Default - You have a business and have a defaulted loan. You provide a balance sheet and financial statement that discloses a partnership relationship on a valuable piece of real estate.
- SBA Loan Default: The Single Most Self Destructive Force in an Entrepreneur's Life
- SBA Loan Workout: What Happens to an SBA Loan when You File for Bankruptcy?
- SBA Loan Workout: How Lawyers Sometimes Inadvertently Prevent Business Conclusions
- SBA Loan Workouts: Fifteen Months, 3 Lost Sales, and We Are Just Now Getting Someo...
- SBA Loan Default: Please Stop Believing Your Franchisor's Projected Numbers, Do Yo...
- SBA Loan Default: Business Decisions Are Exactly That, Not Moral or Ethical Issues
- SBA Loan Default: Workouts Are Not a Get Rich Quick Plan
- Families, homes, children... all innocent victims of this cold-blooded recession.
- Yes, the "too-big-to-fail" businesses were bailed out by our government using our tax dollars.
- We must downsize our businesses if possible, reinvent ourselves and, yes, do the debt workouts




