Life in Obama’s America… 23% of Small Business Owners Went a Year Without Pay

2012 is not your ordinary election.

(Theodore’s World)

It’s an Obama world… 23% of small business owners went a year without pay last year.
Breitbart.com reported, via FOX Nation:

Barack Obama has said the private sector is doing fine.

Tell that to small business owners; a new survey by Citigroup shows that 23% of small business owners have gone more than a year without pay. The study also says that 54% of them have gone without at least one paycheck; 38% of them said their employees had worked overtime without being compensated; and 18% of them had been unable to make a paycheck for their employees at least once.

During recent years, 78% of the owners have taken less profit, 70% have been working more hours, and 69% have used their own funds in order to keep their businesses afloat.

In other words, as Jay Carney said this week, “The economy has not recovered.”

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  • southernsue

    if he gets another four years, there won’t be any small businesses.

  • Peregrine Took, Hobbit S.O.B.

    So this is what The Choom Lord meant by “spreading the wealth around.” This and stiffing a small businessman for a BBQ lunch.

  • LROD

    Yep, And my boss was one of them.

  • Sasja
  • Sasja

    I meant rough patch.

  • Greg

    Drudge has 3-4 articles regards the Financial crisis in Greece. The article about the failure of the health care system needs to be read. It details the end game for socialized medicine

  • 1RedBeard

    Very troubling statistics. But even small businesses like mine, that have not missed a payroll, are struggling to survive in the Obameconomy. Yes, that’s right, Barry; you own this, after being in office almost four years, and having Congress in leftie hands since 2006.

    Our gross sales have been stagnant, our investment in new products and machinery non-existent, and our employee numbers identical to what they were three years ago. No one wants to take a chance on being overextended, not with the socialist cabal in D.C. trying its best to hamper economic growth and punish success.

    I predict a dramatic change in attitude and confidence just as soon as Barry “Il Duce” Obama gets deposed in November, resulting in good things for small business, and the true beginning of a recovery.

  • WW

    Yep, I was one one of them. And #1 is more right than they know!

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  • rabble-rouser

    My husband wants to start his own business and this yahoo of a president scares me. We don’t have much, and we don’t want to risk what little we have. Does that make me selfish and unsupportive of his ambitions? What to do?

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  • Beachbum

    Add one more to the percentage. I’m a small business owner and can not afford to pay myself a salary. The only income I take is from those “nasty capital gains” that Obama wants even more of than he is now getting. And, I only take what is necessary since I have to keep some kind of rainy day fund for the business since the Dodd-Frank bill dried up any and all loans from our regional banks (way too much paperwork for the banks to deal with when loaning money to small business).

    To rabble-rouser – wait until we get Obama out of office !!! I started my business in May 2007 and was doing fine until the crash in October of that year and I have been fighting to keep my doors open since. Everytime you turn around the government is dropping a new regulation or something on your head. This is not a good time to start a business.

  • Earl P. Holt III

    In all honesty, I would wait until Romney is elected to start a new business. The economic environment is way too “iffy” with a Bolshevik President and Senate to risk investment capital right now.

    Waiting six months might make all the difference in the world, especially if you are in an industry like restaurants, where a significant majority fail the first year or so.

    Good luck to all entrepreneurs…!

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  • ChillytheAlaskan

    Obama and his administration have attacked small business while voicing how they were trying to help them. Look at how the dept. of Labor was attempting to impose all these work rules that prevent the children from working on family farms.

    Small business are the very foundation of free trade and a free people, particularly small family businesses. To destroy capitalism and impose marxism/fascism and the new order, first these small businesses MUST be destroyed and the owners forced to go work for the large “collective” businesses. The communist in our government don’t care that these small businesses provide a more affordable product, they need to make the citizens line up and goose step to their agenda.

  • Patty

    OT but what a predicament for America. While Obama hobnobs with Hispanic and Ultra elitists.

    Foreign holdings of US debt hit record high

    http://finance.yahoo.com/news/foreign-holdings-us-debt-hit-130123964.html

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  • Harry

    My grandfather was a small business owner, as my own father, and myself. The current government keeps passing new laws that restrict your ability to operate, and due to the aggrieved regulations I finally left the country and operated down under. When I was in the USA, my business type required that I had to be audited two times a year by the state and federal governments. I was required to have three types of insurance, and at least $20,000 in an audited trust account and a written contract with every client that had to be renewed every year. I had over 500 clients. When I opened up down under, I put up a sign and my name on the door and not one other requirement. Will I return; no thanks. From what I read, it seems government employees feel the rest of the country is obliged to pay them above average wages, never get fired, and have pensions that outstrip anything a self employed person would be envious to possess. In the 1960’s it was just the opposite. I’m sorry but you have already turned the corner, and to erase all the regulations and lifestyles that are currently in place has destroyed most people in even wanting to start a business. What I will never understand is the courage, the capital outlay, and the suffering one takes to start a business is looked upon as a cash flow for the rest of the economy. After listening to what the Unions Employees had to say in the Wisconsin recall movement, I was just dumbfounded ? I’m afraid the whole structure will have to completely implode and a new structure put in place before growth can be achieved, and from what I read this just might happen. The USA government is of control!! Starting a new business? You should look elsewhere. Good luck to all of you.

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  • http://www.rwrinnovations.com Ron Nixon

    I’ve had an online book business since 2001. I put every penny I earned back into my business. It was growing every year until Obama was elected and then it stopped growing and started in the other direction.

    I retired from the Air Force and after a few years doing various things joined the Federal government as a civilian employee. After 11 years I retired again and opened a brick and mortar book store in Omaha in 2011. That was my dream.

    My plan was for the Internet business to support the store until it was profitable. Dumb idea!

    Amazon, eBay and others have gutted the book business. Amazon is doing the same to other products and industries. It must keep growing in order to sustain its business model and there is no way for small businesses to fight a company that is able to sell at a loss and still make money.

    I now have a toy store that also sells books. (I have to do something with the thousands of dollars of brand new books I have in inventory.)

    I wanted to hire one or two high school students. They would be responsible for social media, make videos publicizing my business and other businesses in my small shopping center. Once that was in place, they would train me and other business owners in how to use social media. I was not going to use them as retail clerks. That would be a waste of their abilities.)

    I also planned to eventually hire a wounded warrior or an older couple to run the business so I would be free to do other things from Jan through October when I would return and work at the store for the Christmas rush.

    Like other small businesses I can’t get enough traffic to hire anyone. I belong to the BBB, am an active member in our local chamber of commerce, belong to a veterans business group and other small business groups. I’ve tried everything short of having cage dancers in front of my store to get people to visit my store. Nothing has worked. And our landlord refuses to replace our mall sign that blew down years ago.

    My lease is up next year and unless something drastically changes I will not be renewing it.

    As long as customers buy online from Amazon and others who are low balling prices many small businesses will die.

    I read comments from customers who buy everything online. They say death to small businesses who can’t compete with Amazon and its way of doing business. They ignore the fact that Amazon contributes nothing to their local community. If small businesses die there will be no local community; no tax base, no jobs and eventually no coffee shops and places to gather since coffee shops require customers and customers require jobs.

    Hard to believe that not so long ago you could ride into a town, put a sign on the door of a building and be in business. And, if a 10 year old wanted some spending money and was willing to work hard, you could give him a job without risking going to jail.

    We start small businesses because we love doing something or we want to help people. As a rule we don’t do it to get rich. We want the government out of our lives and a reasonably level playing field that isn’t tilted in favor of corporations with deep pockets who can lowball prices, lose money and keep doing it until we run out of money and close our doors.

    The solution to this problem may be as simple as each town or community getting together and agreeing to support their local merchants. And the local merchants agreeing to do everything they can to provide jobs, low prices and outstanding customer service to their loyal customers.

    Amazon has its place. It is ideal for someone who needs something that isn’t available locally. Local merchants need to work together to provide more value, good prices and customer service to their local customers than Amazon, Wal-Mart and other corporations can. Until local businesses band together and help each other Amazon, Wal-Mart and other corporations will continue to pick us off one at a time.

  • http://american-appliance.com Patti Bryant

    I have been self employed since 1983. I have never had business this bad. I have an appliance store. We sell parts and I have seen Amazon sell parts at or below my cost. And they also give free freight! I have no way to compete anymore. Back in the early 90’s we were selling parts online like crazy but not anymore. The guy posting before me said to buy locally. I wish this could happen but most people could care less if their local business survives. They only want the best price….

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  • Kevin Rodela

    Welcome to the new normal. Liberals currently running our government do not want us to be prosperous. They want us to be dependent. They are deluded enough to believe that our prosperity is harming the plantet and we would all be more virtuous if we were running around on scooters. Obama is intentionally suppressing economic growth and spreading poverty. There are twelve million more people on foodstamps today than there were four years ago. I believe that most Americans want to do more than just to get by and subsist on what the government see fit to give us. If the GOP can not win BIG this year than they are pretty pathetic. They need to stop listening to these stupid consultants.

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