Small businesses and the bailout money.

[moneysense]

Where do small businesses stand as far as the $700B bailout money is concerned? Well, it doesnt look good for them.

There is a set of guidelines for small businesses in place, but it is still uncertain as to what bailout money may be available to small businesses.

When large companies get money from the bailout, they usually pass some down to smaller businesses in order to fill quotas for small business procurement, and these are still in effect.

Under a law of 1977, big business are to give 23% of its federal contracts to small businesses. The goal for 2009 is to give 29 +% to small businesses. It is also a goal to give 44% of subcontracts to small businesses.

Many small business advocates doubt that any of the small business opportunities will happen.

In our area, small businesses comprise a lot of employment opportunities, but without the help of the bailout money, these small businesses may end up failing, thus putting more people on the unemployment lists.

[pennypinch]

Small business's are really being hurt financially right now in my area as well. There are a lot of them having to close their doors for good because they cannot keep up with the expenses because they just aren't bringing in enough money. Many folks are being put out of work and are really struggling to take care of their families. I hope some of that money goes to help them out because they are so important to small communities.