Small Businesses Are the 99
Small Businesses are the 99% - Occupy San Antonio - Occupy - Small Business - pamphlet - brochure - 2 sided
Content
"Banks, both commercial and retail, have little interest in small business. In fact, they have little interest in making money the oldfashioned way, earning it with banking principles. Again, this brings attention to the unsavory greed of the banks at the expense of the small businesses who carry this nation on their backs."
--Anonymous small business owner in response to an online questionnaire by VerticalResponse on the question “Is Occupy Wall Street good or
Since that ideal is not being lived up to, people have come together to let their voices be heard. The Occupy Movement is an exercise in direct democracy where people are employing their power as citizens.
What can I do?
Support small businesses in your area. Arm yourself with information. For a listing of some resources to get you started, please visit: http://rebuildthedream.com/resources/ teachins/more_info.pdf Move your money away from large banks and into local credit unions. To find out more, visit: www.moveyourmoneyproject.org www.lovemycreditunion.org Occupy San Antonio is permanently based at Hemisfair Park. Please join us any time. For news and event listings, please go to: www.occupysatx.com Or find us on facebook. There are many ways you can help, be it with your physical presence at events, cooking, designing flyers, speaking up at city council meetings, or donating materials or supplies. Whatever your talent,
SMALL BUSINESSES ARE THE
limits were suddenly dropped, despite making on-time payments. And recently, Bank of America began demanding that some small business customers pay off their entire credit balances all at once instead of making monthly payments. Big banks are neglecting small businesses . TARP put taxpayer money into the banks, and that is where it stayed. Money is not flowing but is instead lining the pockets of a few. If small businesses don’t recover and grow, the American economy will never recover. Many small businesses are supporting the Occupy Movement because they want their voices heard. Occupy supports small businesses. We are the 99%.
An information document By Occupy San Antonio Press
you can help.
To be more informed about the Occupy Movement, please visit: www.occupysatx.com www.occupytogether.org www.occupywallstreet.org www.nycga.net
Why Occupy? Democracy is generally defined as a
form of government in which all citizens have an equal say in decisions that affect their lives.
Who are the 99%?
Who are Small Businesses?
Small Businesses are America’s backbone. They:
Employ about half of all U.S. workers, Have generated over 65% of new jobs over the last 17 years, Pay 43% of total U.S. private payroll, Represent about 99.7% of all employer firms.
99% of the people in this country are
not being represented by the government. Corporations and the superwealthy get to dictate the course of this country by funding lobbyists, buying commercial ads and space, and contributing to political campaigns. (Remember that under U.S. law, corporations are considered “people” and political spending is considered a form of free speech. Those with more money to spend, have more free speech.) Politicians are beholden to the financial interests that purchased them. People without money are left without a voice.
Despite these facts, small businesses are not considered “too big to fail.” In 2008, big banks were given a $700 billion taxpayer bailout after making some bad financial decisions. The major rational for that decision was to open up lending and keep the lines of credit flowing to individuals and small businesses. However, since the bailout, big banks have actually cut back on lending. The four largest banks have cut back on small business lending by a full 53%. Bank of America & Citigroup, the two banks that received the most Troubled Asset Relief Program (TARP) money, have cut back on local lending by 94% and 64% respectively. "If small businesses are going to lead the way out of the economic doldrums we now face in this country, they must have access to capital, not only to hire more people but to protect the jobs they are currently providing,"
-- Scott Hauge, president of the advocacy group Small Business California
A study conducted by Pepperdine University in 2011 found that business owners rank access to capital as the most important issue facing them today, with only 17% of small businesses in their study able to receive financing. A study conducted by MultiFunding LLC found that each participant in their study would have been able to hire an average of eight workers had they received full funding on the loans for which they applied. Instead, without access to credit, small business owners across the country find they need to lay off workers, scale back improvements, postpone expansions, or are simply close their doors to their local communities.
Who profits?
While small business owners are reporting that their lines of credit are being cut, banks (and their CEO’s) are making record profits (Wells Fargo reported $4.1 billion profit in the 3rd quarter for 2011 - a 21% increase from the year before, Bank of America had a $6.2 billion profit during the same time, and J.P. Morgan Chase had a record setting increase of 67% net income in the first quarter - that’s $5.56 billion). Meanwhile small business owners find themselves with fewer options. Instead of a low interest rate loan, they are being pushed into credit card accounts which may charge more than double the interest rate. Some are finding themselves with lower credit scores after their credit
Why are small businesses the 99%?
Small businesses are on the economic front lines and feel the effects of the recession more than Big Business does. They rely on the economic well-being of their customers, the 99%. As income and wealth for the 99% shrinks, their income and wealth shrink as well. Our struggles are one.
--Anonymous small business owner in response to an online questionnaire by VerticalResponse on the question “Is Occupy Wall Street good or
Since that ideal is not being lived up to, people have come together to let their voices be heard. The Occupy Movement is an exercise in direct democracy where people are employing their power as citizens.
What can I do?
Support small businesses in your area. Arm yourself with information. For a listing of some resources to get you started, please visit: http://rebuildthedream.com/resources/ teachins/more_info.pdf Move your money away from large banks and into local credit unions. To find out more, visit: www.moveyourmoneyproject.org www.lovemycreditunion.org Occupy San Antonio is permanently based at Hemisfair Park. Please join us any time. For news and event listings, please go to: www.occupysatx.com Or find us on facebook. There are many ways you can help, be it with your physical presence at events, cooking, designing flyers, speaking up at city council meetings, or donating materials or supplies. Whatever your talent,
SMALL BUSINESSES ARE THE
limits were suddenly dropped, despite making on-time payments. And recently, Bank of America began demanding that some small business customers pay off their entire credit balances all at once instead of making monthly payments. Big banks are neglecting small businesses . TARP put taxpayer money into the banks, and that is where it stayed. Money is not flowing but is instead lining the pockets of a few. If small businesses don’t recover and grow, the American economy will never recover. Many small businesses are supporting the Occupy Movement because they want their voices heard. Occupy supports small businesses. We are the 99%.
An information document By Occupy San Antonio Press
you can help.
To be more informed about the Occupy Movement, please visit: www.occupysatx.com www.occupytogether.org www.occupywallstreet.org www.nycga.net
Why Occupy? Democracy is generally defined as a
form of government in which all citizens have an equal say in decisions that affect their lives.
Who are the 99%?
Who are Small Businesses?
Small Businesses are America’s backbone. They:
Employ about half of all U.S. workers, Have generated over 65% of new jobs over the last 17 years, Pay 43% of total U.S. private payroll, Represent about 99.7% of all employer firms.
99% of the people in this country are
not being represented by the government. Corporations and the superwealthy get to dictate the course of this country by funding lobbyists, buying commercial ads and space, and contributing to political campaigns. (Remember that under U.S. law, corporations are considered “people” and political spending is considered a form of free speech. Those with more money to spend, have more free speech.) Politicians are beholden to the financial interests that purchased them. People without money are left without a voice.
Despite these facts, small businesses are not considered “too big to fail.” In 2008, big banks were given a $700 billion taxpayer bailout after making some bad financial decisions. The major rational for that decision was to open up lending and keep the lines of credit flowing to individuals and small businesses. However, since the bailout, big banks have actually cut back on lending. The four largest banks have cut back on small business lending by a full 53%. Bank of America & Citigroup, the two banks that received the most Troubled Asset Relief Program (TARP) money, have cut back on local lending by 94% and 64% respectively. "If small businesses are going to lead the way out of the economic doldrums we now face in this country, they must have access to capital, not only to hire more people but to protect the jobs they are currently providing,"
-- Scott Hauge, president of the advocacy group Small Business California
A study conducted by Pepperdine University in 2011 found that business owners rank access to capital as the most important issue facing them today, with only 17% of small businesses in their study able to receive financing. A study conducted by MultiFunding LLC found that each participant in their study would have been able to hire an average of eight workers had they received full funding on the loans for which they applied. Instead, without access to credit, small business owners across the country find they need to lay off workers, scale back improvements, postpone expansions, or are simply close their doors to their local communities.
Who profits?
While small business owners are reporting that their lines of credit are being cut, banks (and their CEO’s) are making record profits (Wells Fargo reported $4.1 billion profit in the 3rd quarter for 2011 - a 21% increase from the year before, Bank of America had a $6.2 billion profit during the same time, and J.P. Morgan Chase had a record setting increase of 67% net income in the first quarter - that’s $5.56 billion). Meanwhile small business owners find themselves with fewer options. Instead of a low interest rate loan, they are being pushed into credit card accounts which may charge more than double the interest rate. Some are finding themselves with lower credit scores after their credit
Why are small businesses the 99%?
Small businesses are on the economic front lines and feel the effects of the recession more than Big Business does. They rely on the economic well-being of their customers, the 99%. As income and wealth for the 99% shrinks, their income and wealth shrink as well. Our struggles are one.
