Obama Talks Small Business
If you’re like many other Americans, you probably tuned in to watch President Obama deliver his State of the Union Address last night. As a small business owner, you also probably noticed that the future of small business in America was a hot topic.
Below are some of the proposals concerning small business owners that were put forward.
- Take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat
- New small business tax credit – one that will go to over one million small businesses who hire new workers or raise wages
- Eliminate all capital gains taxes on small business investment; and provide a tax incentive for all businesses, large and small, to invest in new plants and equipment.
These proposals sound great, however, after experiencing “The worst financial crisis since the Great Depression” small business owners have come to realize the importance of the availability of an alternative to bank loans.
The proposed incentives, along with the availability of other alternatives, such as the merchant cash advance, will play a huge role in helping small businesses to become more profitable and increase jobs.
Alternative funding methods like the business cash advance allow small business owners to have options, putting small business owners themselves in charge of the futures of their businesses, rather that the banks or the government.
