Is 'Occupy Wall Street' Hurting Small Business?

2 min read • Nov 02, 2011 • Dan Bischoff

Occupy Wall St. protesters. Image via occupywallst.org

Regardless of what you think about Occupy Wall Street, this movement might be doing small businesses much more harm than good.

New York Mayor Michael Bloomberg was quoted today in the New York Times saying:

“You know, I think increasingly you’re seeing that the community, businesses and residents in Lower Manhattan feel that they are the ones that are being occupied,” the mayor told reporters at an event in Central Park promoting the New York City Marathon.

“This isn’t an occupation of Wall Street,” he said. “It’s an occupation of a growing, vibrant residential neighborhood in Lower Manhattan, and it’s really hurting small businesses and families.”

Oakland Completely Shutdown

Protesters stand in front of Wells Fargo Bank on Nov. 2 in Oakland. Image via OccupyOakland.org.

Oakland, Calif. is on strike today. The organizers’ goal was to completely shut down the city and its ports. Banks have closed up shop as protesters stood in front of their doors. The Occupy Oakland site reads:

“Huge, enthusiastic, crowds are swirling through downtown Oakland. Police are staying away. All downtown banks have shut down. Come on down, it’s beautiful.”

We called Bank of Alameda today to see if we could help them find more qualified business borrowers. They said they couldn’t talk today, that they’re not open for business because of serious threats from the protesters.

In New York, small businesses are being hurt by protesters. The city of Oakland is shut down today. Some banks are unable to do business today, which means business loans aren’t being processed, which means businesses aren’t getting the capital they need, which means even more small businesses are being hurt by these protesters.

On Occupy Wall Street’s website, it reads:

“We are the 99%. We are not afraid. We are not waiting. We are working to make a better world.”

If the 99% are truly trying to make the world better, they don’t seem to care for small business, the engine that runs our economy.

But what do you think?

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Dan Bischoff