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BUSINESS RECOVERY: Why It Has No Link to Obama
In the words of Merchant Rewards Network VP, David Allen, “Businesses are continuing to struggle with major banks still declining over 80% of business loan applicants. Small banks and credit unions are a little more lenient with approximately 30% approval.
Remember, credit must be impeccable, business financials clean and profitable and the right business type. The struggle that business owners deal with is an inability to obtain working capital for their business. And, if they do find working capital, it’s a one-time infusion, which can be devastating to the business because of the reduction in cash flow and an inability to get more money when employees and bills can’t be paid.”
What are we to think when, one after another, small business entrepreneurs make comments regarding any recent successes they have experienced in the business world like:
“The government did not have that much to do with it. I don't see any policy they put in place that specifically helped us or our local economy.” (Sidney Brodsky, James Gerard Foods). Or how about: “It would be a stretch to say whether the President’s been good or bad for my business.” (Abi Mandelbaum, YouVisit.com).
For the most accurate answer to questions related to the “recovery,” or regarding the business development accolades made by the Obama administration your audiences can seek out and hear from Mr. David Allen, Vice President Merchant Rewards Network. This is a report you will not want to miss.
According to a recent article published by the Media Research Center, “A large majority, 73 percent, of the small business owners said the business climate has “worsened” in the past two years. The same number said federal regulations on small businesses were “unreasonable.” On the other hand however, it seems that the majority of reporters and news anchors most of America rely upon for their news and information support calls for more and more increased regulation on these very enterprises daily. You name it, food regulation, environmental regulation, financial regulation and on. Will there be no end in site?
For a meaningful perspective on this all-important issue that will have a “succeed or not succeed” outcome to our long overdue and much needed economic recovery, look to David Allen.
Mr. Allen’s experience leading business operations and driving growth over a spectrum of business sectors through prepaid cards, SalesGuard, and other forms of merchant rewards for customers places him in a unique position to report on the state of America’s economy like on one other.
We are all well aware of President Obama’s overwhelming health care law. Many claim that this is the largest impediment to financial growth yet. Businesses, fearful of the biggest business regulation ever sit in limbo, not knowing how and where to turn. The US Supreme Court has yet to announce their opinion as to the legality of this legislation and its implications. We are a nation in waiting. The media have favored Obamacare but business evidently has not. Mr. David Allen has the necessary insight Americans require in becoming better and accurately informed decision makers as the 2012 elections draw near.
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ABOUT YOUR GUEST, DAVID ALLEN:
David Allen is the Executive Vice President of Merchant Rewards Network, which encompasses SalesGuard, Project Prepaid and MerchantCard. He is responsible for leading business operations and driving growth in this multibillion-dollar market, including business coverage, pre-paid debit issuing and processing, and financial services. In this role, David oversees development of industry strategy, agent and client relationships, and market plans for industry solutions and business partners nationwide.
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