We've been discussing in our blogs and forums the economic stimulus package and how it will affect small businesses. Once again, I ran across an article lamenting how little help the Stimulus actually offers small business.
The Stimulus passed through the Senate. The Obama Administration and the Senate gave small business small attention in the area of economic support. Dean Zerbe commented in his blog on the Stimulus, “So at the end of the day less than a penny of each dollar of the stimulus will go to help small businesses, which creates 75% of the new jobs in this economy.”
Okay, so what does that mean for small business? Well, Mr. Zerbe thinks Washington has an “anti-small business mindset”; that there are some obvious ways the stimulus bill could have helped small business, including zeroing out capital gains taxes for new investments, which is something that President Obama proposed during his campaign. None of these ideas were included in the Bill.
But lets’ not say that small business is being completely ignored in Washington. The IRS is paying plenty of attention to small business in form of penalties and the canceling of incentives for research and development.
Rather than focusing on the economic crisis and what Washington isn’t doing for small business, we advise our clients to focus on knowledge; good old fashioned know-how with a “fasten your seat belt – we could be in for a rough ride” type of attitude. An aggressive no-nonsense approach to the day-to-day handling of our business affairs is the order of the day. It would be amazing and fantastic if small business could have more than a 1/100th of the dollars earmarked for the Stimulus package; but are we really going to sit around and wait for it? By all means, stay abreast of current events and let our voices be heard in Washington, but let’s not wait for those dollars to come our way. All of this data is not encouraging. The best way to not be the adverse effect of this economic scene is to be as knowledgeable and well trained as possible in business management skills. That's what we impart to our clients. At the same time, everyone needs to know what the government's Stimulus packages are providing and how they will or will not help them as small business owners. Continuing our recent blogs and discussion forums, we would love to have your feedback and thoughts on all of this.
Our discussion forum can be found at the Silkin Group Facebook Page.
Larry Silver
President, Silkin
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