Small Biz SqueezeBy
Guest blog from BusinessWeek Banking Editor Mara Der Hovanesian: We highlighted the problems that some small businesses are having with paying their mortgages in a recent issue of the magazine. Small business employs about half of all U.S. workers and creates well more than half of new jobs in any given year, according to the Dept. of Commerce. They have also so far accounted for half the 5 million jobs lost. According to Jim King, state director for the New York Small Business Development Center in Albany, many struggling business owners are holding out hope that they’ll get a piece of TARP to tide them over during tough times.
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