Save the Economy, Save the World.


It seems to be quite a challenge that lies ahead. The job summit idea raises some interesting consideration about what what can be done to assist the businesses that make up the economy to survive and retain jobs.

Here is a few thoughts about how I would approach it structurally. Firstly, I would define the various levels of the economic environment that we need to assist. After all if we implement only large scale macro projects we may miss opportunities for smaller initiatives. If we can create a break down of levels we can then come up with ideas that are appropriate for each level and therefore have more chance of being successful. For example, suppose level 1 is an individual business defined by size, level 2 is all x sized businesses in a particular geography, level 3 is all x sized businesses in particular geography and industry and so on…

We could also create a support structure that can be called upon if required which is appropriate to each level. As every business is different, no one way would solve everyones problem, therefore we need a flexible supporting structure. It could look something like this…

Is your business struggling in the current environment? Select one or more of the following as critical to your business survival in the next 6 months…

1. Business Expertise/Coaching
2. Tax Relief
3. Access to Capital
4. Access to work

So if required a business would apply to receive support in one or more of the above. The appropriate agency task force would then approach the business to address what support initiative they can tailor to the business. This system could work as a tailored support system which is applicable regardless of industry or size.

In terms of access to work, imagine if we could implement a temporary program for businesses that was the business equivalent of the dole. A business in serious trouble could then apply to join the incubator program, which supplied publicly funded projects appropriate for the business at a level which meant that business could operate accordingly to break even for the period it remained in incubation. The challenge would be to approve access to businesses that upon consideration would prove to be profitable under normal market conditions and therefore be justified in terms of support.

If you have other ideas or comments on the above, it would be great to hear what you have to say…

By Hayden Breese