i'm pleased to have really richardson in the studio with mason attorneys present
small business advisory council insure cargo small business
advocacy
council dot org is the website
advocacy against secom notices you got it
so i have the title run you no worries about
uh... so small business advocacy council give us that you've been on the very
forward as quick recap of what you all do
yeah you know about three years ago i've group of folks just got frustrated with
with politics basically uh... from a small business perspective and we
started this organization and we advocate
for small in the market businesses lisa focused added power one another pass
legislation that is truly can help small nap
big business
and really pushing forward an agenda for our
our businesses our employees
and therefore our
other folks
now i understand the biggest problems the small businesses have in america is
tax access to cashing a liquidity absolute or access to debt for that
matter yes
he had any nobody there's twenty being silly sbsc
and was just being sick
i thought small business advocacy your group and you know if you talk to them
to a person i believe they wanna lent mom
and that perfect but keep on the front lines and talk about your branch
managers that you know internet matching regarding that the people that are
running the company's
uh... but it's not happening so you know one of these were pushing very hard for
craft running com
and uh... that would allow
our community to and vast in our community you know you'd raise a million
dollars from your friends from your associates from your business contacts
on that and we are just waiting
but he asks you to write the rules to allow that to happen is called equity
crap funding well fits equity crowd funny men the space was selling stock in
their local communities and uh... it isn't as he helped
soaking in three hundred thousand dollar loan
or three hundred thousand dollar investment of some sort
what you need to do as you go to your friends ego you're so city go to people
who are willing to take a risk on you for a thousand two thousand dollars you
give them some of your company
but you raise that money that you needed to clean train trips moccasins an audio
but you have to do person with those people have been through this with small
businesses that have been having partners are bringing people in
is you have to say okay here is the value this company based on our sales
and we're gonna do a certain mopar times revenuers multiplier profit or uh...
assets plus
how every
our reevaluate companies variety of different ways
based on this valuation the company if you put
three hundred grandin
uh... that represents ten percent company represents thirty percent of the
rivers and seven percent of company
and and and so i'm assuming that the reason you want the s_e_c_ involved is
there really needs to be a neutral arbiter
village in the sea of those valuation
sold right now you can even do it
so right now you can't do ok in offering like this to an another of different
people be promoted i_p_o_ you can do it in his book and look at the jobs at
wikio present obama's job act which had bipartisan support all lower property
crowd funding
all yeah that's that's where this comes from
on my didn't know that you had experts from mendez now wants the bill passed
they need to write the rules and you know that i i i understand we have to
give yeses jobs at did pass congress
avoided okay yeah
yeah i mean it in today but they have not implemented
exactly exactly so we're waiting for the s_e_c_
to distract the rules by they were supposed to be done in january
you know they needed in extension now uh... so work we're really pushing them
to do that as quickly as possible because there are business is waiting to
invest i mean waiting to hire waiting to grow
and this is a tremendous way of doing it in dance competition to the banks
if we can invest in one another
all the site and you know we're not backing
large venture capitalists and banks
for alone or frac woody anyway that we possibly can we can come together for a
critical mass and get it done right and you can say at patronize the dry cleaner
down the street because around five percent his company
absolutely that's that's my savings and and some like it
patronizing this and i'm gonna visit districts are down me out here this this
uh... restaurant because
on a piece of it and and that's that's my savings for folio now as my local
community it could be incredibly power he could help local businesses time
and that you know we have to push hard because we don't have the money
but the big corporations have all we've got is critical mass and let's get it
done
so really risen you're doing this with the small business advocacy council dot
org
in chicago at a scrap of those groups doing it around the united states based
on the fact that the that the the president's legislation has made this
possible there are a lot of groups that are pushing crap on me
lot of entrepreneurial groups are pushing crowd funny guy i i have to say
i mean we've taken a preview
big lead on this bond just because we have such a dynamic organization in
great people in
in or really moving a whole bunch of different things this is an health
insurance and and really pushing
idea gender of small businesses forward okay tell me about health insurance a
small business absolutely i mean health insurance rates kill small business
uh... and
unfortunately
worse things i think that has come out of this whole bomb care
is small business owners forget that before this whole thing happened our
rates were still going up jury if tina thirty percent biker noel weebly broiled
interest rollerblade specially it so it's not
that will bomb a carrot that's racefreight it's that has been for major
insurance companies with no competition
uh... that have been unilaterally
been able to just do what they want
so one thing we've done in illinois is we push very hard to have along uh...
and acted that now has allowed to get health insurance cooperatives
in a little by and we were funded a hundred sixty well not we met the s_b_a_
c
but uh... a group responded noted
that health insurance cooperative and it's going to give small business owners
the opportunity compete with the four large insurance companies and crowded
built size down to business it is the classic cooperative model where
everybody who's a member actually is also an owner
absolutely
absolutely anything people
are getting use different sorts of you know people running it are smart
they can use different sorts of mechanisms to bring down costs and
that's what's so exciting about it um...
and you know they're twenty six states were funded for co-ops
it anyone i know this is fiscal clip
fiasco the rest that funding was taken away so eleanor was the last eight dash
to get funded for cooper we want to make this work
using one issue the insurance companies that we can do this
and we can compete in the free market so if we do have that crash that i well i
was talking with the caller a few minutes ago about
uh... if you're our alternatives to traditional big scale capitalism which
is small locals free enterprise biz icy amazing things happening in health
insurance by sea third-party administrators
insurance brokers coming together to create products that are can't compete
with the large insurance companies it's very exciting people are hungry for
something different we cannot afford a i_d_ just can't afford
to continue to provide
health insurance for their employees when rates go up thirty percent in
icy innovation has to do it it's very very exciting and and i'm optimistic
hammering at something doesn't come with you know you reduce the small business
advocacy council for is percent usbc
and with the states the confluence of fifty-some-odd having inherited will do
that