EconomicsUSA: Small Businesses: Do small businesses really lead in job growth?

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Open Forum, Powering small business success (Nov9,2k11)
— Reposted here by EconoMix
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Are Small Businesses Really Saving Our Economy?

Katie Morell Contributor, 

OPEN Forum Editors Recent Posts

The media loves small businesses. Pundits sound off daily on the benefits of keeping corner stores in operation, politicians exhibit empathy for small business owners in speeches, heck—even I’ve written that shopping local can save us all.

But lately, my beliefs have been called into question. For everyone who loves small business and credits them with saving our economy, there are an equal number of people who believe otherwise. Case in point: reports of falling small business employment and data that attributes job creation with mid-size firms.

So what’s the real answer? Are small businesses saving our economy or not?

Read more ... click the time-stamp below:

EconomicsGlobal: Small farms, family farms: A 'global company' to certify the supply chain on behalf of the world's small producers, to the benefit of consumers -- my table and yours

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EconomyUSA: Small Biz: Why not hiring?

An active participant in Volokh Conspiracy of intellectual conservative and libertarian lawyers in a brilliant blogging alliance, attractive to persons in law related professions, mostly, and offers spritely debate partners on other days.

Why Small Business Isn’t Hiring

Posted: 25 Aug 2010 11:06 AM PDT

(Jonathan H. Adler)

My Case Western colleague, Scott Shane, has a brief item linking the lack of hiring by small businesses to the collapse in home prices. Specifically, he identifies five reasons the “residential real-estate mess” is holding back small business job creation:

1.) Declining house prices have softened demand for small businesses’ products and services.

2.) Small businesses are overrepresented in the real estate-related industries that have been decimated by the residential housing market collapse.

3.) Small business owners use their homes to obtain business credit.

4.) Banks have tightened lending standards in response to a rising share of non-performing real estate loans.

Small business owners were major customers of residential real estate loans during the boom, making them among the consumers hardest hit from the collapse in home prices.

He concludes:

Waiting for small business owners to begin hiring in this economic recovery has become like waiting for Godot. Rather than continuing to wait (while chanting the mantra that “small businesses are the major job creators in economic recoveries”), we should acknowledge why small businesses aren’t leading job creation this time around and come up with solutions to the residential real estate problems that are holding them back.

Doing this is imperative. Slightly more than half (50.2 percent) the private sector works in small companies. If the residential real estate mess keeps the small business sector from hiring, it will be awfully difficult to reduce our unemployment rate to a reasonable level.

If the signs we've tea-leaved regarding downward trends in the economy (energy sector as in oil and gas industries, housing sector, and jobs sector for starters) can be reversed, perhaps unclogging the bottlenecks the entrepreneur experiences in coping with residential real estate problems and ease of access to bank credit.

EconomyUSA: Jobless increase: Impacts and impasse on job creation in the new healthcare-driven American economy

To contrast with UK's unemployment crisis (mentioned in yesterday's blog-entry), here's a recent stat from USA's labour crisis (May 13, 2k10). Jeffry Bartash wr+ts in MarketWatch, "Weeklu jobless claims little changed at 444,000" --

WASHINGTON (MarketWatch) - The number of people applying for unemployment benefits essentially held steady at 444,000 in the latest week, the Labor Department reported Thursday. Claims actually fell by 4,000 for the week ended May 8, but the data was revised up by 4,000 for the prior week. The net effect: no change from last week's headline number. The four-week average of initial claims - a better gauge of employment trends than the volatile weekly number - dropped by 9,000 to 450,500. Economists surveyed by MarketWatch predicted initial claims would dip to a seasonally adjusted 440,000.

Uncannily, the number echoes with biblical sobriety -- "And I heard the number of them which were sealed: [and there were sealed one hundred forty four thousand -- 444,000!--of all the tribes of the chldren of Israel" (Revelation 7:4 KJV; see also Rev. 4:1). Am I the only person who noticed that parallelism?

In any case, the Bible verses are a distraction here. We have to retain our sobriety in order to guage the significance of a half-million unemployed workers applying for jobless benefits, pogey, the Dole over the course of a week, as averaged from a four week's total figure -- must give any considerate observer some considerable pause.

These jobless figures of a week's average nearly rises to a half-million, yet the portion of the economy signified by small businesses, which are the primo job-creators, are being taxed into immobility and somnolescence. Obamanomics is staggering under the new healthcare entitlement (praise God for that were there elsewhere in the Fed budget an adequate compensatory move toward spending cuts and paying down the national debt) -- instead, out of nowhere we have an unstoppable oil disaster we can't afford, and ... and ... we're in trouble in the USA economy. We need a public policy of encouraging and incentivizing the job creators, not big business so much as small.

Britain and America must both prioritize now the creation of jobs for the unemployed, and thus the creation of incomes spendable by wage-earners returned to work -- and taxable by Federal, state and local govts in significant part to pay for the budget-prioritization of healthcare (including the 32 million many of whom will be out of work and jobless). Economically speaking, everything else is secondary. Except of course, intelligent regulation of the financial and the energy sectors. We are not finished with our oil addiction, as President George W. Bush, termed it; rather our continuing and returned workers in many places need to drive their cars to get to work, public transit being unavailable in many places across the continent.

-- EconoMix