The start of a new year always brings with it fresh hopes, and this is especially true for small business owners. 2015 seems to be no different. Small business owners are in a difficult position and are often hard pressed to find a balance between managing business and making a profit. They often look to Washington for new bills, laws and developments which can ease the load. Recently, the Washington post published a rather interesting and insightful piece based on a survey conducted by On Small Business. On Small Business invited small business owners and entrepreneurs to submit the headlines which they’d most like to see coming out of the Capital in 2015, and below you’ll find a small selection of the one’s which should resonate with you if you're in the SMB category.
JOBS Act Implementation
Jason Holstine, owner and chief executive at the home improvement store Amicus Green Building Center, said that the headline he’d most like to see in 2015 would be “SEC implements JOBS Act; businesses free to crowdfund” Jason went on to explain that they regularly receive queries from customers about whether or not their business is interested in accepting investors. However, current regulations require these people to be accredited investors in order to be in a position to accept such offers. Jason indicated that he saw a huge opportunity to use crowdfunding as an avenue to leverage community support to fuel growth.
Mike Moloney, founder of FilterGrade, an image editing software start-up in Boston had a response which is sure to set the comments section alight. Mike indicated that the headline he’d most like to see in 2015 would be “Immigration reform finally announced for start-ups” This reform would see an attempt to bring the best talent to the US by making it easier for foreign workers to obtain green cards and visas. Mike believes that the move would contribute positively to the growth of the U.S. economy by attracting top entrepreneurs, designers and engineers and in so help both small business and start-ups alike.
And of course Obamacare reform requests were also submitted. Tim Wulf, President of JJ or Reno wanted to see the headline “Affordable Care Act Defunded by Congress” as some economists anticipate the cost of implementation of Obamacare to be at least $1 per labour hour – which places a massive strain on small businesses already struggling to survive. Although many small businesses are positioning themselves to minimize the impact of this law, they remain hopeful that it will be defunded by the Supreme Court when the case comes up later this year.
Finally, tax reforms also seemed to be a popular topic. More than a couple of respondents wanted to see tax reform related headlines. One submission in particular, by Donna Partin, president of Merry Maids was probably one which many small business owners would like to see. Donna would like to see the headline where the Federal government cracks down on businesses cheating on their taxes. Donna said that abiding by the tax laws is expensive, and that those who cheat on their taxes run up the federal deficit and ultimately place greater strain on the businesses playing by the rules. Donna asked people to consider the tax implications if the government would place a greater focus on aggressively pursuing tax dodgers, rather than harassing those small businesses that were playing by the rules and already paying their fair share.
What would you as a small business or entrepreneur like to see from Washington in 2015 Tax reforms? Improvements to Obamacare? The ability to crowdfund? All of the above? Let us know below in the comments. While it seems like 2015 is already off to a busy start, we will see if congressional leaders and President Obama heed any of the voices from the small business community.