All politicians express support for small business. These enterprises are the engines of our economy and represent the entrepreneurial grit that has made this country great. Unfortunately, these rhetorical commitments to Main Street have not always been accompanied by meaningful actions. As a result many small businesses are finding it difficult to launch or grow, while others are failing altogether.
Since the misdeeds that led to the financial crisis of 2008, the federal government has adopted a myriad of regulations and requirements designed to reduce risk-taking by Wall Street. The quest for safer banks and greater financial stability is a good thing. However, we must be careful of what we wish for. The most stable financial system is one with no lending at all and many small businesses today are struggling to find credit.