After last week’s employment numbers, Dennis Gartman tackles the problems associated with small business owners in this morning’s The Gartman Letter.
It essentially breaks down to two issues at hand: healthcare and securing credit.
While Obama and Congress battle over healthcare, many small businesses are frightened at what might happen next in terms of benefits costs for employees.
Secondly, we have the problem of credit. Like many consumers, businesses are finding it hard to borrow and to get a revolving line of credit from banks in order to keep their doors open. Says Gartman:
“Bank lending is virtually non-existent, and until banks are prepared to lend, employment is unlikely to advance.“
Given the importance of small business growth to the economy, it’s imperative that these issues come to a favourable resolution.
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