1. What Does “The Bailout” Mean to Small Business Presented by Daymond M. Milam, MBA Accountant / Consultant Dream It Tonight…. Achieve It Tomorrow!!! www.1bettersolution.com
2. The Problem!!!!! The U.S. economy is at its weakest point in over 30 years. The Real Estate is the hardest hit: Realtors, home builders, etc. Those other business that may be related to real estate attorneys, suppliers etc.
3. TheFacts Given the significant role small business plays in job creation—responsible for 93.5 percent of net new jobs since 1989 44 percent of small-business owners identified credit cards as a source of financing—more than any other source of financing, including business earnings.
4. The Facts Community banks fear becoming an inadvertent casualty of the government conservatorship of Fannie Mae and Freddie Mac. 87% percent of small-business owners in stated that rising energy costs have had a negative impact on their business
6. Will The Bailout Help? 44% of small business owners simply didn't know if the bailout, would affect them positively or negatively. 67% of small businesses have been affected by the credit crunch!
7. How the Bailout helps Small Business Help for community banks. These smaller institutions, which have been ravaged by the collapses of Fannie Mae and Freddie Mac. Fully fund the SBA. The focus is specifically on the SBA's flagship program, the so-called 7(a) loan guarantee.
8. How to Survive Bailout or Not? Look for ways to secure alternative funding for your business, i.e. grants, joint ventures, expense reductions. Routinely review financials: Quarterly, Monthly, Daily (if possible)
9. Tipsfor Survival Figure out what your cash flow requirements are in the event that your business turns down. Have at least six months of operating capital on hand. business owners need to make sure that their salaries and savings are part of the budget ''Pay yourselves first,'‘ ''Take a salary”
10. More Tips for Survival Withdrawals from 401(k)s and other tax-deferred retirement accounts are treated as taxable income by the government. keep in mind where you want to end up just as you wouldn't put all your money into one stock, ''don't put all your money into the business. have an alternative plan
11. If Your Accountant has not helped you answer these questions call us1 866- I ACCT 4Uor visit us on the web atwww.1bettersolution.com
19. Referrals We LOVE Individuals and /or Business with Tax Problems (i.e. Garnishments, Levies, Liens, etc.) Businesses Experiencing Growth Businesses with 3 or more employees on payroll Businesses wanting to secure financing Individuals desiring to go into business Anyone Required that wants a RELATIONSHIP WITH THEIR ACCOUNTANT!!!!
