Sunday, May 5, 2013

Business Owners Take SBA Chief to Task

Bob McCue of the MDC System in Philadelphia said he did not think SBA understand his struggle.

Photo credit: Diana Ransom

National Small Business Week Small Business Administration is an annual love fest of sorts for agents and select group of successful entrepreneurs.

But some business owners are invited to this year's conference openly expressed their disappointment in the pace of economic recovery and question the ability of SBA to address concerns about the lack of financial traders .

During the question-and-answer section of town hall-style forum on Monday, the business owner Bob McCue of Philadelphia SBA chief Karen Mills asked what he should do about his problem, which he described as " ; reality "for most small business owners.

Compared to a few years ago, "I have less employees. I have to dumb down health insurance plan, "he said, speaking into the microphone in a room full of nearly 300 participants. "There is no withholding tax applicable to us."

Related: The SBA Karen G. Mills Answering his Critics Agency (Video)

Said McCue, who had MDC system in Philadelphia for 15 years, he was not sure whether to continue funding revocation of his engineering company 401 (k) plan. He worried that the smaller banks, under pressure from regulators, may draw its line of credit.

And he says he most worried that his wife will wake up some morning and say, "'You know honey, I do not want to sign for the bank loan again,'" as the couple needed to prepare for their own retirement.

Small Business Administration chief Karen Mills (in white jacket, center) fielded questions from the audience during a town hall today at National Small Business Week. On the left Mills' Cathy Martine, an executive vice president at AT &T; right Darlene Miller, president of Permac Industries Inc., A small business. Rick Cochran, the owner of Mobile Medical International Corp., another small, manageable.

Photo credit: Diana Ransom

 From the stage, Mills McCue responded that the story is something "I've heard from small business owners across the country."

He said the agency is working to get business owners greater access to credit, in part by "constant conversation with" with regulators "to ensure that it is committed the needs of small businesses. "

Mills also said he was optimistic that the health care reform, scheduled to take effect in 2014 if implemented, would create an exchange where "the insurance company will make an offer to the needs of small that the owner of the business. "

Chief McCue urged to communicate with SCORE, an SBA-affiliated provides free counseling, advice about getting about retirement needs.

Two other business owners went to the microphone to complain about the lack of credit, the bank did not cover credit, especially for service companies without assets.

However, some employers have questions thank mills agencies to provide assistance, particularly through the Small Business Development Center.

Kristie Arslan, president of the National Association for the self-employed are just starting their own gourmet popcorn company, said he had received "invaluable support" of the SBDC.

However, after the forum is completed, McCue said he did not think the SBA or Washington officials really understand the struggle. "I do not think they see it," he said. "They live in a world inside the Beltway."

He added: "I think I was 95 percent of business owners in many of the people here talking points ..."