Public defenders
Problem: Small businesses cannot defend themselves from trademark threats.
Solution: Public defenders for small companies that are attacked by big business.
Problem: Small businesses cannot defend themselves from trademark threats.
Solution: Public defenders for small companies that are attacked by big business.
Problem: The net growth cap for minority businesses is constraining.
Solution: Remove the net worth cap ($1.2 million) for minority owned businesses.
Problem: The economic situation for angel investors is getting worse.
Solution: Simple changes in the tax code can help. Treat common stock differently than preferred stock. Look at different caps and provide better incentives for angel investing.
Problem: A lot of intellectual property (IP) is being wasted due to "squatting".
Solution: Use or license IP within a few years so it can be commercialized -- "use it or lose it."
Problem: Entrepreneurship is a local issue. Entrepreneurial culture needs to be instilled at the local level in order to increase awareness of entrepreneurial skills and building the next generation of entrepreneurs.
Solution: Put business incubators in historically depressed areas that do not have access to information.
Problem: There is a penalty for taking out money from your 401k to invest in your own venture.
Solution: 401ks have exceptions for certain situations (e.g. medical). Include an exception to the 401k penalty for withdrawal to invest in one's own venture.
Problem: We defer / allow forbearance for college loans and guarantee home loans but there is no similar avenue for someone to invest in their own small business.
Solution: Allow deferrals or tax exemptions to help with access to our own capital.
Problem: When SBIR RFPs are released they are often outdated and behind in terms of what the private sector needs.
Solution: Create a two-way communication mechanism that takes into account private sector needs before an SBIR RFP is issued.