While some argues that the economy crisis is over, unemployment and the inability of the government to provide for those that are jobless demonstrates the contrary. A recent editorial article by the New York Times stated that federal unemployment benefits for jobless people recently expired leaving over 200, 000 Americans without any source of income.
Despite this alarming figure, many have drawn to statistics as a method to prove that the economy is actually recovering. The question is for whom. The Bureau of Economic Analysis stated that the Persona Income increased by $1.2 billion, thus it fell to specify whom income is actually improving.
The current unemployment rate is enough evidence to prove that the economy crisis still greatly alive and is continuing devastating the American people. Despite the numerous investments by the Obama’s administration, people across the nation are still heavily affected by unemployment while businesses continue to close down.
The problem, perhaps, is that there is too much emphasis in that the recession is over or that there even wasn’t a recession. Meanwhile the federal unemployment benefits for the jobless should be re-established in a timely manner and focus energy and resources in creating long lasting jobs that provide income for the American people.
Tuesday, April 13, 2010
News: Small Businesses in the Rise / Is the recession Over? - Third Draft
Despite the economic downturn that is swamping the nation’s economy, investment in small business hasn’t stopped. On January 22nd, at the corner of Sixth Avenue and Thirteenth Street a new Italian restaurant opened where a Cosi franchise once was. Although the economic crisis has greatly damaged the country’s economy, the opening of Maximopino Café is perhaps a sign of hope that the economy is in its way of recovering from two years of downward mobility in new business openings.
Maximopino café, which specializes in pizza, gelato and coffee, is located in the mixed residential and business neighborhood, the East Village at the corner of 13th Street and 6th Ave in downtown Manhattan. The imported interior straight from Italy gives the restaurant a distinct and delightful appearance. “We are committed to provide the best services possible,” Davis said, the manager of the restaurant, “and that starts by providing an authentic and attractive space for the customers.”
The restaurant’s menu includes salads, pastas, pizza, and sandwiches, among many other Italian’s recipes. “Customers can choose what they want on their pizza from a variety of fresh ingredients,” Davis commented.
“One day in the morning I asked for a bagel with cream cheese and they said that they didn’t have that,” Miss Johnson said. “The next day I came in they had a variety of bread at the counter. That was unexpected.” This is only one of the ways that Maximopino Café is trying to maintain and gain clientele. They rapid response to the needs of their clientele is also why they are succeeding in this tough times and competitive business environment. Davis commented that clients’ suggestions are seriously considered and would always seek ways to meet them. Aside from the ample, clean and attractive interior, Maximopino also provides free Wi-Fi for its clients and free delivery in a five block radius. Moreover, the restaurant provides a 10% percent discount for college students when showing their ID as well as for hospital workers.
In these hard times, new businesses might render ways to overcome the current economic crisis. Maximopino Café did not only bring a distinct flavor to the residents of the village but also employment opportunities. With the unemployment rate at 9.7% according to the Bureau of Labor Statistic, the highest in decades, new jobs seem to be a reasonable tactic to confront the crisis. We need more new business like Maximopino Café that provides jobs at the community level to compensate for the jobs loss during the economic crisis. The Economic Policy Institute estimates that 36,000 jobs were lost in February alone, which will not be replaced anytime soon. Nonetheless, according to the national Small Business Administration, there has been a steady increase in small business openings in New York City in the last 8 months.
With the new legislation signed by President Barack Obama, which will provide an additional 18.8 billion dollars for small business lending, the Small Business Administration projects that there will be an even faster increase in new small business openings, which will benefit and strengthen the economy by providing jobs and income.
Lopamudra Banerjee, PhD, Economics, Professor at Eugene Land College, said that the additional funding allocated for small business by the Obama’s administration is step forward towards the recovery of the economy. In addition, she said that although we continuo losing jobs in big companies, many smalls business are striving and providing new jobs in the local economy, which is vital for the health of the economy as a whole.
Despite the economic crisis that is threatening the nation’s economy, Maximopino Café has been a huge hit according to Davis, the manager. This is further emphasized by the employees who say that the clientele increases on a daily basis. Nonetheless, the restaurant has had to update their menu a couples of times already to meet the demands of the clients.
According to Davis, it is too soon to know whether the economy has had an impact on the restaurant since they have just opened. Nonetheless, Davis said that the business is doing well and that it is already producing enough to pay the employees and the business expenses. He further commented that there will always be a demand for food. “We provide competitive prices considering the neighborhood,” Davis said “which is something we carefully considered before opening.”
It has just been a few weeks since the day Maximopino Café opened and the business is already doing well. Davis commented that they are planning on opening a franchise. There is no specific day as to when this would happen, thus the opportunity is already available.
Maximopino café, which specializes in pizza, gelato and coffee, is located in the mixed residential and business neighborhood, the East Village at the corner of 13th Street and 6th Ave in downtown Manhattan. The imported interior straight from Italy gives the restaurant a distinct and delightful appearance. “We are committed to provide the best services possible,” Davis said, the manager of the restaurant, “and that starts by providing an authentic and attractive space for the customers.”
The restaurant’s menu includes salads, pastas, pizza, and sandwiches, among many other Italian’s recipes. “Customers can choose what they want on their pizza from a variety of fresh ingredients,” Davis commented.
“One day in the morning I asked for a bagel with cream cheese and they said that they didn’t have that,” Miss Johnson said. “The next day I came in they had a variety of bread at the counter. That was unexpected.” This is only one of the ways that Maximopino Café is trying to maintain and gain clientele. They rapid response to the needs of their clientele is also why they are succeeding in this tough times and competitive business environment. Davis commented that clients’ suggestions are seriously considered and would always seek ways to meet them. Aside from the ample, clean and attractive interior, Maximopino also provides free Wi-Fi for its clients and free delivery in a five block radius. Moreover, the restaurant provides a 10% percent discount for college students when showing their ID as well as for hospital workers.
In these hard times, new businesses might render ways to overcome the current economic crisis. Maximopino Café did not only bring a distinct flavor to the residents of the village but also employment opportunities. With the unemployment rate at 9.7% according to the Bureau of Labor Statistic, the highest in decades, new jobs seem to be a reasonable tactic to confront the crisis. We need more new business like Maximopino Café that provides jobs at the community level to compensate for the jobs loss during the economic crisis. The Economic Policy Institute estimates that 36,000 jobs were lost in February alone, which will not be replaced anytime soon. Nonetheless, according to the national Small Business Administration, there has been a steady increase in small business openings in New York City in the last 8 months.
With the new legislation signed by President Barack Obama, which will provide an additional 18.8 billion dollars for small business lending, the Small Business Administration projects that there will be an even faster increase in new small business openings, which will benefit and strengthen the economy by providing jobs and income.
Lopamudra Banerjee, PhD, Economics, Professor at Eugene Land College, said that the additional funding allocated for small business by the Obama’s administration is step forward towards the recovery of the economy. In addition, she said that although we continuo losing jobs in big companies, many smalls business are striving and providing new jobs in the local economy, which is vital for the health of the economy as a whole.
Despite the economic crisis that is threatening the nation’s economy, Maximopino Café has been a huge hit according to Davis, the manager. This is further emphasized by the employees who say that the clientele increases on a daily basis. Nonetheless, the restaurant has had to update their menu a couples of times already to meet the demands of the clients.
According to Davis, it is too soon to know whether the economy has had an impact on the restaurant since they have just opened. Nonetheless, Davis said that the business is doing well and that it is already producing enough to pay the employees and the business expenses. He further commented that there will always be a demand for food. “We provide competitive prices considering the neighborhood,” Davis said “which is something we carefully considered before opening.”
It has just been a few weeks since the day Maximopino Café opened and the business is already doing well. Davis commented that they are planning on opening a franchise. There is no specific day as to when this would happen, thus the opportunity is already available.
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