Lawsuits against banks – Should Small Businesses Sue???

So the scuttle is all about these lawsuits against the banks.  Well because of the banks crashing the economy my small business crashed.  Who’s responsible?

I spent three years preparing for the wholesale of Nature’s Balance Care products.  Strategic advertising, press releases, testimonies, retail sales to drive demand, acceptance into the American Pet Products Association so I could participate in Global Pet Expo 2008, Organic certification Listing with OMRI.  The thousands of dollars in trade show booths, collateral, travel and the endless hours day after day following up on leads, thousands of phone calls, faxes, only to watch the sales completely drop off May 2008.  On the sales graph it looked like a cliff as the sales plummeted at a near vertical.  Every retailer and distributor stopped buying as retail stores were stuck with inventory on their shelves because consumer spending dried up, do you remember that?  Every phone call I made was fruitless, every sample sent appreciated, but “not buying right now”.  It didn’t matter that my products had won awards, been written up in countless magazines and were heralded as the safest and healthiest insect control for people, pets and the planet.    Who’s responsible?  Is it my bad luck?  Did I not prepare well enough?  Should I have known the banks were shirking their fiduciary responsibility which would crash the economy?  Was I naive to have believed the bank leaders would not participate in Professional Misconduct?  Was I stupid to have believed the governments of the world would not have allowed Unfair Trade Practices to go unchecked by the banks?  I did everything right, played by the rules, had a SCORE mentor from the Small Business Administration work with me for those preceding 3 years, wrote a fabulous business plan and was on the path to bring forth a wonderful addition of products to the consumer and Kaboom!!!  Who’s responsible for my fabulous company with amazing products to not have not “made it”, to have been “crashed”?

So my question is should small businesses who can prove their demise was directly related to the crashing of the economy join the lawsuits against the banks?  I’m curious to know how many of us are out there who were crashed?  Should we ban together in a class action lawsuit?

I am somewhat lucky as I now have a full time job as of fall 2010 making $30k less than I did 10 years ago as a Controller, thank you banks, at least I have a job.  My husband manages our barn now renting it out to boarders which helps close the financial gap, somewhat.  Nature’s Balance Care did have a buyer at one time, but that deal fell through so I was going to close it at the end of 2011.  However enough outcry and support by customers inspired me to keep it going.  It has gone backwards into being a hobby business where I started since now I don’t have time to make calls and grow it.  And wouldn’t you know the economy is maybe recovering so I’m missing out on the opportunity, ugh.  Who’s responsible?  Should the banks be held responsible for Nature’s Balance Care having its future crashed?  What do you think?  I want to hear from you.  Email Missy@MissyWryn.com.

Advertisements

About Gentle Horse Trainer Missy Wryn

Specializing in problem and dangerous horses Missy Wryn is an internationally recognized Gentle Horse Trainer and member of the Association of Professional Humane Educators. Missy's Training the Whole Horse® methods & techniques and the creation of her widely popular All-In-One Bitless Bridle have been featured in media such as Alaska Airlines Magazine, Equine Monthly, Natural Horse, NW Horse Source, Stable Management, The Horse Show with Rick Lamb, Horse Girl TV and more. For more information visit Missy Wryn’s website at MissyWryn.com or call toll free (888) 406-7689.
This entry was posted in Small Business Owners and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s