Small Business Needs More Than Just Presidential Talk

It’s a good thing that we now have a President that talks about how important entrepreneurs and small businesses are to the economy. But now, we need more just than talk.

The President again proposed more help this morning:

1. Eliminate for one year capital gains taxes on new investments in the stock of small businesses. This would be a good thing, but we need more details on how this would help angel and VC investors (if that is who it is directed at).

2. Small businesses would get a tax break for hiring new employees. This is one of my ideas at the beginning of 2009 on what he should do.  

Obama can go further by eliminating Employer Matching Federal Withholding Tax for businesses less than 9 people. This will encourage the more than 4M businesses that qualify to hire people full time instead of trying to skirt the laws and use freelancers. More money would go to the employee instead of the myriad of government taxes.

3. Eliminate fees for loans made through the Small Business Administration. It is good to eliminate them but the SBA and Banks need to still open the spigot up wider on these loans. A business can’t save on the fee if they don’t have the loans.

What are your ideas?

By | December 8th, 2009|Business, Current Affairs|1 Comment

About the Author:

Barry Moltz gets business owners unstuck by unlocking their long forgotten potential. With decades of entrepreneurial experience in his own business ventures, he has discovered the formula to get stuck business owners and increasing their sales. Barry has founded and run small businesses with a great deal of success and failure for more than 20 years. After successfully selling his last operating business, Barry founded an angel investor group, an angel fund, and is a former advisory member of the board of the Angel Capital Education Foundation. His first book, “You Need to Be A Little Crazy: The Truth about Starting and Growing Your Business” describes the ups and downs and emotional trials of running a business. His second book, “Bounce! Failure, Resiliency and the Confidence to Achieve Your Next Great Success”, shows what it takes to come back and develop true business confidence. His third book, “BAM! Delivering Customer Service in a Self-Service World” shows how customer service is the new marketing. His fourth book, “Small Town Rules: How Small Business and Big Brands can Profit in a Connected Economy” shows how when every customer can talk to every other customer, it’s like living in a small town: Your reputation is everything! His fifth book, “How to Get Unstuck: 25 Ways to Get Your Business Growing Again” helps every small business owners move their company to the next level. Barry is a nationally recognized speaker on small business who has given hundreds of presentations to audiences ranging in size from 20 to 20,000. As a member of the Entrepreneurship Hall of Fame, he has appeared on many TV and radio programs such as CNBC’s The Big Idea, and MSNBC’s Your Business. He hosts his own radio show on AM560, and writes for American Express and Forbes.

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