End The Insanity
Small Business Incentive Bill -Steve Susman
Small Business will be the main driver in the economic recovery of this country. Small business will create more viable employment, variety and free market competition. Corporations have served as a mere illusion of choice, with limited potential for American business growth, due to the constant outsourcing of employment to other countries. Thus, we must propose to make the following changes to the processes of starting a small business in this country.
We must work alongside the Small Business Administration [abbreviated as SBA in further speech] as well as Federal, State, and local authorities to ensure the potential success of American small business.
Provision 1. The practice of racial /gender profiling, will no longer have any purpose in the qualification process of establishing funding and/or chances of any applicant’s success in being granted the right to establish their own business. The only qualification priority in this matter will be American citizenship. For far too long, Americans have been denied the opportunity to open their own business, while others from foreign nations were given first priority. This practice will be stopped.
Provision 2. The potential entrepreneur must demonstrate a extensive knowledge of the business area he/she will be attempting to participate in. That person must follow existing protocol of the SBA in regards to classes and education, projections, and a business plan. Upon completion of all necessary terms put forth by said SBA, the SBA will also mention all viable financial grants and other avenues available at time. It is the sole responsibility of the entrepreneur to follow up on these leads and put forth every effort possible to secure financing outside of SBA backed loans. Should the SBA program be required to back loans, periodic monitoring of the business in question shall be required for no longer than a period of 18 months. The purpose of monitoring these enterprises will be made every ninety days to ensure all operations are legitimate and insure the repayment of loans made through SBA affiliated banks. The SBA will only be held responsible for repayment if business in question defaults on bank loan payments within this 18 month period. After the 18 month period, the signer(s) of these loans will be responsible for paying the entirety.
Provision 3. During this 18 month probationary period, the enterprise will have as many unnecessary burdens waived in conjunction with Federal, State and local authorities where applicable. Translated: No fees assessed for sign permits, burglar alarm permits, waste generator permits, salesperson licenses (more will be added as applicable). The municipalities where the enterprise is established will work in conjunction with SBA to make sure undue burdens of fees are not imposed. The enterprise (specific to area of service) will be required to possess all health inspection required permits (food service) and proper sales tax and occupancy permits. Municipalities will not be permitted to harass, and/or extort excessive fees when said municipality is in need of revenue. All such fees after this 18 month period will begin at normal schedule without penalty to the enterprise. However, the municipalities must show the cost breakdown in detail/fee schedule.
Provision 4. The Internal Revenue Service will cooperate in regards to tax incentives. The more people employed by the entrepreneur on an extended basis (longevity of permanent employment) means less taxation for the enterprise. As in Provision 1, there will be no more or less tax incentive based on race or gender. Skill level at the particular trade will be the deciding factor, and that weighs on the business, not Federal Government meddling. The incentive will be based on a scale determined as to the overall practicality of the business in question. [Example: A restaurant providing meals with 20 full time employees will receive a more favorable incentive than a designer clothing boutique employing 4 part-time employees]
Provision 5. Should the Federal Reserve wish to remain in existence, they will make possible through their shareholders all possible avenues of finance for these entrepreneurs available. These loans will not be allowed an interest rate of any more than 10% per annum-period. Since the FED finds ways to make profit from default credit swaps and charges exorbitant interest to our government, they will be required to surrender funds for this purpose.
Provision 6. Items such as tools, desks, chairs, office computers and all other equipment that was previously paid for in an entrepreneur’s home, donated to the enterprise shall not be subject to ANY tax whatsoever.
Provision 7. American Small Businesses providing goods and services to any government agency (GSA Contracts) shall have payments expedited through a debit card system (in place-in some states now) or may have the option to request a direct deposit. Cash flow for employee payroll and expenses shall be of the utmost priority.
**** More to be added at a later date as data gathering is ongoing*****