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America needs more startups, especially those which might someday grow into high-impact, high-growth firms. Despite adding over one million net new jobs in 2010, the U.S. has over 7 million fewer nonfarm payroll employees today than at the end of 2007 when the recession began. Research from the Kauffman Foundation and others support this notion, with startups accounting for most of the net new jobs in the economy and adding new vitality to the marketplace.
When you talk to anyone in government this week, one word is on everyone’s mind: “shutdown.” The federal government is already setting up contingency plans on what it will do if the Congress cannot agree on a new continuing resolution by March 4.
This week, Federal Reserve Chairman Ben Bernanke delivered his semiannual monetary update to the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services. The prospect of higher commodity prices has the potential of squeezing business owners’ profitability at a most inopportune time – when otherwise the economy itself is starting to get some traction.
A couple years ago, Rep. Paul Ryan (R-WI) kick-started the conversation on deficit reduction with the release of “A Roadmap for America’s Future.” Since then, a number of organizations from varying ideologies have put forward their proposals to fix the nation’s fiscal crisis. The most notable of these were the recommendations made by the National Commission on Fiscal Responsibility and Reform, which was led by Erskine Bowles and Alan Simpson, in “The Moment of Truth.” While many of the recommendations differ, all sides tend to give Congressman Ryan credit for advancing his outline and stimulating the dialogue.
The Senate is expected to vote on April 5 on a 1099 fix resulting from passage of the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148). Specifically, Section 9006 would require all small businesses that purchase more than $600 in goods or services from a supplier to issue a form 1099 for tax purposes to that supplier.
When you speak with small business owners, many of them will tell you that access to credit remains a challenge. A recent survey from the International Franchise Association (IFA) found that 39 percent of franchisors reported that at least half of their franchisees had been unable to obtain necessary funding, either to open a new franchise or to expand a new one.
One of the hot topics in Washington – at least among business interest groups – is the issue of regulation, or as many of them would suggest regulatory overreach. The U.S. Chamber of Commerce, for instance, has made this one of their top concerns this year...
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