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To The Rescue

Help for Y2K shows up in the form of a loan bill in Congress.

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This story appears in the November 1998 issue of Entrepreneur. Subscribe »

As one Capitol Hill staffer puts it, small business is "doing the ostrich." Entrepreneurs are ignoring the Year 2000 (Y2K) problem, in which computers and embedded microprocessors in telephones and other equipment fail to recognize dates after December 31, 1999, causing havoc at the start of the new millennium.

In introducing a bill that would make $50,000 loans for fixing Y2K problems available, Sen. Christopher S. Bond (R-MO) said that testimony presented to the Senate Committee on Small Business, which he chairs, indicated that as many as 330,000 small businesses would shut down due to the Y2K problem and that an even larger number would be severely crippled.

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