The Kinship of Private Equity and Small Business
“Every business is founded with the primary purpose of creating profit.” – Jim Blasingame, internationally recognized thought-leader on small business and entrepreneurship.
(PRWEB) June 14, 2012 – Mitt Romney's record in the private equity industry has become part of the election year political debate.
Weighing in with a passive-aggressive swipe, Steven Rattner, a former private equity executive and Barack Obama's "car czar" and loyal supporter, said in a television interview, "Bain Capital – like other private equity firms – was founded and managed for profit ... earned legally and legitimately. Any job creation was a welcome but a secondary byproduct."
In an article published on Forbes.com, and an associated video, internationally recognized small business expert Jim Blasingame reveals that Rattner, and others who say or infer that there is something wrong with the "profit first – jobs second" motivation, should understand that this is the same strategy of small businesses.
"As essential as employees are to accomplishing a business founder’s wealth-creation goal, no pre-start-up entrepreneurial dreamer ever thought, 'I want to commit all of my time, energy and resources – and risk everything – so I can create jobs,'" writes Blasingame. "Jobs are not just the byproduct of private equity firms and small businesses, they are the byproduct of capitalism – period."
Blasingame is available to discuss the historical and contemporary importance of the "profit first – jobs second" business motivation.
For an interview on the role of private equity in creating U.S. jobs, contact Davonna Hickman, 888-823-2366,dsb(at)jbsba(dot)com, to book Jim Blasingame.
ABOUT JIM BLASINGAME
Jim Blasingame is an internationally recognized thought-leader and expert on small business and entrepreneurship. He is president of Small Business Network, Inc. and creator and award-winning host of the nationally-syndicated, weekday radio program, The Small Business Advocate® Show since 1997.
In addition to his syndicated radio show, which is simulcast worldwide on the Internet, Blasingame is the author of two books and a syndicated columnist for newspapers, Forbes.com, Nasdaq.com, OPENForum.com and American City Business Journals. He is a high-energy keynote speaker on small business issues and the 21st century marketplace.
Small Business Network, Inc. produces and distributes multi-media small business content worldwide. Sponsors include Insperity, CareerBuilder and Palo Alto Software.