Solution: Provide loan forgiveness for recent graduates who go to work for a small business in an LMI or HubZone area.
Benefit: Reduces loan burden for recent... more »
Simplify tax reporting. As a business owner, between state and national taxes, we file over fives different returns for a single business. You have to be a tax expert or hire outside experts just to file taxes in the right way. The barrier is very high for new enterprises with this complexity.
Prohibit the payment of Payroll taxes for one year for start-ups that employ 3 or less employees and have an annual income of $100,000 or less.
How about reducing the Federal Tax of 34%? I'm being taxed as two people, Employer and Employee, how fair is that?
What would have really helped me get started is making the federal regulations easier to digest. As a soap maker, I had to bounce all over the web to try to cobble together which regulations apply to me - not only on the federal level, but at the state and local level as well. If there was a site that matched your business to a list of all the regulations that apply, I would be in heaven.
Offer incentives to communities and or groups of unemployed citizens to retool empty factories to produce goods here in the United States to compete with the imports and supply good paying jobs to Americans! The government could even offer incentives to Sears, Penneys, etc. for buying these American made products.
Empower the SBA to give more of a voice to small businesses, especially with lobbying. Tax incentives for small businesses; make small biz loans more accessible, allow small biz owners to take unemployment if needed (or some other safety net).
Make it easier for foreign entrepreneurs to relocate to the US or for foreign students to stay in the US and start companies. See Act here: http://kerry.senate.gov/press/release/?id=4e6a51f6-fb2b-4212-b299-b0c46c7e6b58
Most SBA loans are difficult to obtain and take forever, and VC capital typically ins’t interested in funding anything for under than $5M USD; Angel investors have picked up some of the slack, but if the SBA started a micro-lending program, it could accelerate the growth rate of innovation.