FORT WAYNE – No offense, Mr. President, but Matthew May has his own small-business stimulus plan.The chief project engineer for Intellitek Systems of Fort Wayne is offering a series of free Web conferences this month to businesses on navigating a tough economy.
Late last month, President Obama signed a bill that set up a $30 billion loan fund to help small companies grow their operations. Republicans had blocked the legislation because they said it smacked of the 2008 financial industry bailout.
May said he appreciates the federal government’s “good intentions, but more deficit spending is not what we need.”
“What entrepreneurs and small businesses need is the freedom to be creative and try new things,” he said. “That is where the new jobs often come from.”
Intellitek Systems offers “cloud computing,” which allows customers to access various business services over the Internet.
May will present the Internet seminars at 2 p.m. each Monday. The first, on how to reduce expenses, went well, May said.
“Better than expected, actually,” he said, noting that almost 50 participants logged on.
The remaining Web conferences will address streamlining the business process, improving profitability and increasing sales. Those who miss the conferences can search Intellitek’s website by clicking the “resources” tab.
While such efforts are commendable, business adviser Jane Rich said Obama’s stimulus plan has merit. She is regional director of the Northeast Indiana Small Business Development Center in Fort Wayne.
“The first nine months of the year, we had 27 startups and existing businesses receive $5.4 million in private and bank financing,” Rich said. “With the new stimulus plan, I expect it to pick up even more.”
The legislation increases the federally insured portion of loans to up to 90 percent through the Small Business Administration, she said.
“Before, it was 80 to 85 percent, but with it being more, it’s an additional incentive to banks” to lend.
May doesn’t dispute that the legislation sounds good, but he maintains his position that innovation will better boost the economy for the long term.
“That is the key,” he said.