Small businesses across the nation are expected to be the leaders in economic recovery, with SMBs producing 64 percent of net new jobs over the past 15 years. Now, a report from the Patriot Ledger indicates that entrepreneurs in Massachusetts might soon find special incentives for business formation to boost the state economy.
Congress recently announced a plan to raise taxes on high-income individuals, returning the top two marginal tax rates (currently 33 percent and 35 percent, respectively) to their pre-2001 levels of 36 percent and 39.6 percent starting in 2011.
Staten Island may be a small borough, but it recently passed some legislation that could bring big changes to small businesses. According to StatenIslandLive.com, Representative Michael McMahon is sponsoring two bills that will help entrepreneurs gain access to working capital.
The location of a prospective company is important to the success of the business. Not only do different states have unique markets that will be more or less amenable to different business types, but also each state has its own laws governing corporations.
Americans increasingly love to go green with energy efficient lighting and eco-friendly recycling practices. For a time, it seemed entrepreneurs would also be well-advised to go green as clean-tech startup companies were a favorite among venture capitalists, making it easy to find startup funds.
Entrepreneurs who are considering business formation know having a strong business model is important to securing investors’ funds. A report from ReadWriteWeb.com suggests it may be time for startups to consider moving away from advertising models and shift toward building new businesses on micropayments and subscriptions.
Even with the administration’s recent allocation of $30 billion to increase loans to small and startup businesses, many entrepreneurs seem to struggle to find sufficient funds. But for future business owners in California’s Bay Area, startup funds may soon be easy to find from a wider net of investors.
Entrepreneurs who underwent business formation in Houston recently found it easy to access funds thanks to a stimulus package from the Small Business Administration’s Houston District Office.