Most economists argue that small business is the economy's key to prosperity. But over the past few months, confidence among owners has fluctuated, while consumer confidence made a surprising downturn in December.
However, the holiday shopping season saw record gains, and lending and credit opportunities are beginning to pick up as well. Then again, unemployment is expected to remain high for several years to come, and small businesses employ nearly fifty percent of the private sector workforce.
The disparity in figures has left many analysts and lawmakers baffled over what policies and strategies to embrace. Huffington Post CEO and managing partner of SoftBank Eric Hippeau argues that the small business sector needs more mentoring and entrepreneurial incubators.
Specifically, Hippeau references New York City's recently launched Venture Fellows Program, which has already helped several entrepreneurs incorporate in New York.
"New York City took a bold step on December 6 when it launched its Venture Fellows Program to pair entrepreneurs with leaders of established businesses for a year of mentoring at no charge," he wrote in BusinessWeek. "The program is a smart and efficient way of spurring businesses to create next-generation jobs in such growing sectors as media, health care and fashion."
Tags : financial management, ny, small business management
Posted: Dec 30th, 2010