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What Is A Typical Interest Rate On A Small Business Loan?

What Is A Typical Interest Rate On A Small Business Loan?


Sian Phillips is the Managing Editor of TweakYourBiz.com and Content Editor on EggMarketingPR.com. Sian is also the accountant for her clients Clearwave.ie and Comserv.ie but is moving more and more into the content editing world; proofreading and editing blog posts, eBooks, novels and anything that is written. With over 25 years’ worth of experience in business and accounting Sian provides help to her clients with accounting and credit control. The other half of Sian’s day is spent working in the Social Media space; proofreading, copyediting, sharing posts and advice or conducting interviews for TweakYourBiz.com. She is a qualified Accountant with an Honours Diploma in Journalism too. http://www.tweakyourbiz.com

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  • Hi Gianni, welcome to Bloggertone and what an interesting first post! While I believe that there is a place for people availing of internships, you raise some worrying trends. I think that there appears to be a need for more regulation so that people are not messed around, I like the slaves.ie idea.

  • Paula

    Great post Gianni! I think the intern situation is just a pyramid scheme of labour value, where the people at the bottom are enticed to invest a sum of their valuable time and effort with the promise of career progression. In fact the only winners are those at the top that go out to play the system. Nobody realises the true damage being done until the whole thing collapses. Taking on an intern should be a big responsibility for the employer in terms of providing good training, advice and other help to the intern.u00a0

  • nnInternships can and should be a two way street. Employers shouldnput in place a formal mentoring programme for interns, so that interns canntruly learn from the experience of other staff. It can be difficult to get anjob without experience, and an internship should bridge that gap. However, somenof the internships that have been advertised appear to be simply job vacancies requiringnexperienced staff, and are potentially exploitative in nature. Bad attitude isnbad business and will rebound on these employers. It would be great to hearnsome positive intern stories from other commenters u2013 hopefully there are some!nThanks Gianni for raising an important ethical issue and welcome tonBloggertone!nnn

  • Thanks HelennnThe only way is for the Gov to set down much more stringent rules re: internships. I doubt that will happen.

  • Thanks Paula! nnI think it’s a direct effect of consumers wanting everything for as little as possible. I.e. cheap food, cheap cars etc.nnThis is spilling over into the services industry, so I suppose we’re also partly responsible..

  • Thanks NiallnnI have to admit it was a bit nerve wracking and I hope the post was up to the Bloggertone standard!

  • I can’t speak for Ireland or Europe, and I must come from the stone age, but I would have killed to have an internship –even an unpaid or lowly paid one while I was in school. I came out of college in the. I’d eighties to a “reduced” interest rate of 9% on my college loans and few if any jobs available. An internship at anybprice would have given me the experience that so many employers wanted.nnOnce I finally got my professional job, I was shocked to hear interns “requesting” and demanding perks in addition to the generous salaries they were paid. It seemed to me that theybexpected all the benefits without learning the ropes of the job.nnThre is so much to learn in the real working world that you don’t learn in the classroom that the internship experience in and of itself is valuable.nnOn the other hand, if companies are abusing interns by making them get coffee instead of learning the ropes – then that is a different story. Giving interns the opportunity to experience and learn the job at a Lowe cost is one thing but using them in unrelated areas is something different.

  • I understand what you’re saying and I think there are varying degrees of offers of internships.nnI’m not sure what value an internship has, if it’s for cleaning apartments or answering the phone.nnI believe there has to be a value attached for both the company and intern.nnThe examples I posted, are for positions which would normally go to experienced, skilled people. nnThese are not internships as far as I am concerned, but an excuse for cheap labour.nnI’m sure there are many sides to this story, like the interns requesting perks. nnThe scary thing is that only one is very evident.nnPLEASE send on any good news one if you know of them 🙂

  • Tommy Collison

    I’m a secondary school student and I interned with a well-known national newspaper for 2 weeks.u00a0nnThe way I see internships and the paid v unpaid debate rests on what the intern is doing. If they’re tangibly helping the company or if they’re there in a largely learning capacity. I was mostly learning in the newspaper (even if I was submitting articles), so I don’t at all feel ‘hard-done by’ that I wasn’t paid. In fact, those newspaper articles are going to stand to me with my college applications in the future — so I would’ve paid THEM to publish articles in my name. I’m okay with unpaid interns if the student is getting other ‘perks’ like helping his college application or learning more about his proposed field of study.nnAnyhow — as a secondary school student, I’m speaking here with absolutely no authority.u00a0

  • Thanks to Tommy for adding value to this thought provoking, great first BT post Gianni!nnRequiring a PhD or experience for an internship plainly means it is being masked when in reality it should be a proper paying job.nInterns expecting monetary and other “perks” need a reality check.nnTommy puts it well, “those newspaper articles are going to stand to me with my college applications in the future” – clearly a win-win situation for him, and the said newspaper.nnUnfortunately this is a debate that is emotionally fueled, especially now, especially in this country (Ireland)nIf it’s not a win-win situation, then someone is abusing someone else!

  • Welcome to Bloggertone, Gianni!u00a0 What an interesting first post.u00a0 The headline is particularly good….nn- Anita

  • Hi TommynnI think we’re talking about differing levels of internships. nn2 weeks work experience is definitely something I would have done willingly as well, taking into account the use they will be to you re: applying for college.My issue is with these 9 month job placements, masquerading as internships.nnThanks for your comments and personally, I don’t think the fact that you’re a secondary student should have any bearing in this conversation. nnYou may have experiences which we haven’t.I for one have never written for a newspaper, so I think one person’s comments are just as important the any others’.

  • Hi LornannThanks for your comment & well said :-)n

  • Hi AnitannThank you very much :-)n

  • Hi ElainennThank you :-)nnIt is an emotional topic and that’s a clear signal that something is wrong.nnI agree re: the perks and I’m not advocating for any suche measures but I do believe that a long term “internship” of 9 months, deserves more than u20ac50 / week.

  • I wasu00a0 discussing this very topic yesterday with a colleague and it is good to see it being highlighted. The onus should be on the employer to provide mentoring and suitable training for the intern and also be fully responsible for their welfare. Stricter rules and conditions (with no loopholes) need to be put in place so as to prevent this type of exploitation which sadly seems to be very prevelant. nnGianni you are so right when you say valuing your staff, (interns or not), can surely only benefit yourncompany, both in terms of staff morale and public perception.u00a0 nAs the saying goes u2018what goes around comes aroundu2019! So, if employers donu2019t treat staff/interns correctly and with respect u00a0well then at the end of the day it will be their own downfall. Bad press travels very quickly!nIu2019m sure there are many interns out there who have had a very positive experience and many employers who have valued the knowledge and expertise of their interns.nnA great first post Gianni!

  • I was discussing this very topic yesterday with a colleague and it is good to see it being highlighted. The onus should be on the employer to provide mentoring and suitable training for the intern and also be fully responsible for their welfare. Stricter rules and conditions (with no loopholes) need to be put in place so as to prevent this type of exploitation which sadly seems to be very prevelant. nnGianni you are so right when you say valuing your staff, (interns or not), can surely only benefit yourncompany, both in terms of staff morale and public perception. nAs the saying goes u2018what goes around comes aroundu2019! So, if employers donu2019t treat staff/interns correctly and with respect well then at the end of the day it will be their own downfall. Bad press travels very quickly!nIu2019m sure there are many interns out there who have had a very positive experience and many employers who have valued the knowledge and expertise of their interns.nnA great first post Gianni!u00a0u00a0u00a0u00a0u00a0

  • Thank you Mary :-)nu00a0




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