I have always been a strong believer that small business is the foundation and driving force of the prosperity our country has experienced. It is the true spirit of the American Dream. Over 70% of all jobs created in the USA comes from small businesses. It is the pride of these small businesses that grow the local communities, as well as the giving heart of these same businesses, as they are active within their community.
I am concerned that the current Washington administration has lumped businesses of all sizes together or they do not fully understand small business. I hope I‘m wrong. Keep in mind, President Obama currently has no entrepreneurs on his staff. Small business covers many sectors of our economy, whether it is a firm like fi-Plan Partners, a community bank, a manufacturer, a dentist, a retail store, this list goes on. If we as small business owners are to lead the way out of this recession, we collectively need our voice heard in this economy. The best way we can do that is with the National Federation of Independent Business (NFIB).
As the Voice of Small Business, the NFIB emphasizes the importance and belief that small business will help bring us out of our current recession. Whether you own a business or are an employee of a small business, you need to visit their website (www.nfib.com) to understand all the issues at hand and the impact certain legislation can have which in turn effects the economy and ultimately, your investment strategies and wallet.
So you ask, “Greg what does this have to do with my portfolio?” You should never forget that every big corporation started out as a small business. We have just confirmed in this recession that when big corporations lose the heart and soul of a small business by no longer caring for their clients, those big corporations will fail as profits override having pride in their products and services for their clients. Both Sam Walton and Ray Kroc believed that you could read research reports all day long and still not know how your business was doing until you walked into an actual location.
I am a committed member of the NFIB and this past month I had the honor of receiving their Small Business Champion Award for the State of Alabama and for the Southern Region. My wife Peggy and NFIB State Director, Rosemary Elebash, accompanied me as Governor Bob Riley signed a proclamation at the State Capital recognizing my award. Then I received the Southern Region Small Business Champion Award at the National NFIB Leadership Trust Conference in Washington, D.C.
While in D.C., Senator Jeff Sessions honored my recognition with a meeting in his office. Senator Sessions and Governor Riley each individually had dialogue with me about the Alabama economy and the Alabama leadership that truly supports small businesses and economic freedom. They both represent our great state so well and I believe they are a big part of why Alabama is doing far better than other states in this downturn of the economy. But they need our help by joining hands with the NFIB which is fighting every day to see to it that businesses throughout the nation can operate in a free market system that allows entrepreneurship to thrive.
While at this conference I said to the owner of a small trucking company, “Call me when you start seeing business pick up. Your industry usually picks up 90 to 120 days before the economy will actually rebound." Puzzled, he asked, “How did you know that?” I responded, “I do more than read research reports to determine the strategies in our portfolios. I prefer to talk to owners of trucking companies.”
The heartbeat of our economy is the small business owner... men and women every day striving to make a difference. With the NFIB our voice can be heard as one and we can play a big role in turning this economy around.
I want to thank the NFIB for this huge honor, our clients for believing in us and everyone on our fi-Plan team, for this honor is truly a team effort. Oh, and one very important thank you to my wife Peggy and my daughters who stood by me in my dream that an independent financial planning firm could rise above the competition, even if it meant I worked late, long hours away from them.
I’ll let you know when that small trucking company calls me.
(Click on the link above to see more pictures of my trip to D.C.)
