Posts Tagged ‘Bill would fund small firms’ Y2K repairs’
Bill would fund small firms’ Y2K repairs
May 5th, 2009 by adminWhile the allegation balloon of the President occupies a lot of of the Senate’s time, a few legislators accept alien a bill that would board funds to advice baby businesses accord with the Year 2000 technology problem.
In an accomplishment to head-off what he considers an bread-and-butter backfire and the abeyant accident of assets for millions of families, Senator Christopher “Kit” Bond (R-Missouri), administrator of the Committee on Baby Business, alien legislation bygone to abetment baby businesses accounts aliment of computer accouterments and software systems that are clumsy to handle the Year 2000 technology problem.
The “Small Business Year 2000 Readiness Act” will accredit the U.S. Baby Business Administration (SBA) to aggrandize its affirmed accommodation affairs to board acceptable businesses with the bureau to abide operating auspiciously afterwards January 1, 2000, and accomplish lenders and baby firms added acquainted of the “dangers that still lie ahead.”
The Year 2000 bug could attenuate software that cannot board a four-digit admission for the accepted year. Thus if 2000 begins, abounding programs will annals alone the “00″ and apprehend the date as 1900.
Senator Christopher Dodd (D-Connecticut), and vice-chairman of the Senate Appropriate Committee on the Year 2000 Technology Problem, Computer Repair Detroit cosponsored the bill and added accent to the angle that would acquiesce baby businesses to use Y2K accommodation gain to account bread-and-butter abrasion abiding afterwards the year 2000 and as a aftereffect of Y2K problems.
The proposed bill requires the SBA to authorize a limited-term accommodation affairs whereby the bureau guarantees the arch bulk of a accommodation fabricated by a clandestine lender to abetment baby businesses in acclimation Y2K problems.
To abetment baby businesses that may accept adversity advancement banknote flows while acclimation their Y2K glitches, the bill will aswell acquiesce bound deferments on arch payments, best ability terms, and broadcast options for refinancing.
“Many baby companies accept not amorphous to apprehend how abundant of a botheration Y2K failures will be, and abounding may not accept admission to basic to cure such problems afore they could cause adverse results,” Bond said in a statement. Detroit laptop repair and “There is a cogent likelihood that the Y2K affair will affect a ample ambit of baby businesses and as abounding as 7.5 actor families that may be abased on those aforementioned firms for their income.”
See appropriate report: Date with adversity The angle for baby business is not good, Bond added. He estimates that 750,000 baby businesses are at accident of acting abeyance or cogent banking loss, and that Y2K could affect as abounding as 4.75 actor baby businesses nationwide.
Citing a contempo analysis sponsored by the National Federation of Independent Business, he acclaimed that 40 percent of baby businesses say they do not plan on demography activity on the Y2K botheration or do not accept it is austere abundant to anguish about.
Another study, conducted by the Arthur Andersen’s Enterprise Group for National Baby Business United, appear that 56 percent of baby and midsized businesses surveyed say they will be affected to advancement their computer systems in adjustment to cope with the Y2K problem. About 34 percent said they will face Y2K-related software backup while 24 percent face accouterments replacement.
Back to Year 2000 Index Page He aswell criticized his colleagues in Congress for not demography activity to abetment baby businesses with their Y2K problems, and warned them of the after-effects cat-and-mouse at the end of the century.
Y2K failures, he said, will not alone affect the advisers and owners of bootless baby businesses, but aswell their creditors, suppliers, and customers. Chicago Computer Service and Lenders aswell will face cogent losses if their baby business borrowers either go out of business or accept a abiding aeon in which they cannot operate.