What Does a Small Business Law Mean For You?
The President is calling on Congress to pass small business legislation that would allow for tax credits and other incentives for business that are small--and most are--that hire new employees.
Every time small business legislation comes up there is an opportunity for you to make good on a new job that perhaps had eluded your grasp in the past. For example: If a doctor's office--which might have had a hard time hiring--gets a tax break and they need a nurse and you're the prime candidate--then you might be in luck.
However, it doesn't just go to people who own businesses that you know--what if YOU owned your own business and served the medical community in some way?
Everyone's talking about diversifying the economy. Well, part of that diversification might mean that you have a service you can provide that you haven't even started a business for yet. For example: Sometimes you have to branch out in order to diversify.
Maybe you start a little business whereby you courier lab specimens and results. Sometimes larger companies have their own couriers--but smaller ones don't. Also, larger firms may be so busy that they need extra help. If you get too busy now you're going to be hiring--and there comes a tax break!
Perhaps you start a business that outsources Dental Hygienists to certain Dentists. You're kind of pooling all the talent and then farming them out to different practices. Before you know it--you've got a tax credit.
Sometimes we hear about tax breaks and think they're only for "the man", but if you're clever and have good ideas then you can make the small business law work for you. This only means that you have to step out there and get things done.
Perhaps there's not a market out there for what you want to do right now--but you can provide a different service instead. That's pretty smart considering the state of the economy. You might be able to provide jobs to people who can't find them otherwise AND you'll be benefiting from tax credits that should provide you with cash that you can put back in your business.
At the end of the day--step out there and make something happen. Don't be afraid to make a big move and try to start something new. The government wants to reward you for the American Entrepreneurial Spirit.