Here’s Why Most Small Business Initiatives Are Doomed To Failure

Take the recently announced Goldman Sachs 10,000 Small Businesses Initiative — a $500 million initiative that will unlock the growth and job creation potential of 10,000 small businesses across the United States through greater access to business education, mentors and networks, and financial capital.

photo credit: markwgallagher

It is based on the broadly held view of leading experts that a combination of education, capital and support services best addresses the barriers to growth for small businesses. 10,000 Small Businesses will be guided by an Advisory Council co-chaired by CEO Lloyd C. Blankfein, Warren Buffett, and Dr. Michael Porter of Harvard Business School.

And now you understand why this is just another program that is destined to fund the pockets of Wall Street and none of the moolah will get to you on Main Street because frankly neither Warren Buffett nor the renowned Dr. Porter can even find Main Street…don’t even mention Mr. “”Wall Street” BlankFein!

To these esteemed financial gurus, a small business has revenues around $50,000,000 (million) and when you talk funding, they can’t understand it if it is under $5 million and it doesn’t IPO (that reads go public) in six months so they can quintuple their investment…give me a break!

When we talk small business, we mean revenues under $100,000 and looking for start up capital in the $10,000 range with no money to fund consultants like Accenture so they go instead to SCORE or their local SBDC to get free counseling. You Wall Street Morons … This is “Small Business America on Main Street America”

See the whole announcement here

The basic problem is that although they and the government at all levels understand that small business does drive more than 50% of the US economy, their problem is that they can’t spell small business and they won’t stumble over it because we know they only walk on Wall Street and have heard about Main Street but poor bastards their executive assistants forgot to program it into their Garmin UVI or GPS iPhone.