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Will President’s New Measures Boost Small Biz?

July 11th, 2012 · 2 Comments · Economy

by Kristy Welsh

(Last Updated On: February 26, 2018)

As I blogged last month, a recent poll reveals that the majority of Americans do not believe either President Obama or Mitt Romney has a leg up on the other when it comes to the economy. While the majority of Americans may think the economy should take center stage, most simply do not believe one candidate is more capable of making a difference than the other. With new measures for small businesses announced today, it looks like the President is looking to change our minds.

As reported by MSN Money, the new measures planned by the Obama administration for boosting small businesses are as follows:

  • To help contractors who are working on federal contracts, the relevant government agencies must submit payment within 15 days of receiving invoices, as opposed to the current 30-day grace period
  • If Congress approves it, small businesses will be allowed to write off up to $250,000 in capital investments in 2013
  • The maximum loan amount for small businesses through the Small Business Administration will increase fromĀ $250,000 to $350,000
  • The loan application process through the Small Business Association will be accelerated through “QuickApp,” a streamlined application process for surety bonds
  • In the event of disasters, families and businesses will more easily receive rebuilding funds via an online application process through the Small Business Administration’s SBA’s Disaster Loan Program
  • Lower-income communities will more easily attract startups and small businesses thanks to regulatory reforms to the New Markets Tax Credit

What do you think? Will these measures make a difference? Why or why not?

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2 Comments so far ↓

  • Rick

    Obama had and has no qualifications to be President. He was basically a community activist and hasn’t got a clue about the economy. There hasn’t even been Federal Budget in place since he took office. If the Gov’t was playing by the same rules as citizens, the creditors would have gotten together to force a bankruptcy. I am a small business owner and ObamaCare is putting me out of business and forget the SBA. The only way you qualify for a loan is to prove you DON’T NEED THE MONEY!!!

  • Kristy Welsh

    My small business is thriving in this economy. Obamacare has no impact on my business, most of the provisions aren’t going into effect until 2014. Give it a chance.

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