I know what you're thinking: Not another post about the economy. But I couldn't help myself when I saw this Yahoo! news report that small business owners are feeling optimistic about economic growth in the next three to six months. On top of that, these small business owners are making plans for aggressive growth in the next few months. Still, there's room for entrepreneurial optimism to grow. Here's what the Tennessean's Jeff Cornwall suggests will ease the burden on America's small businesses:
Cut tax rates. Entrepreneurs need to see that their risk-taking can lead to the opportunity for income and wealth down the road.
Decrease regulation. The Small Business Administration estimates that when compared with large businesses, small operations must spend four and a half times more per employee to comply with environmental regulations and 67 percent more to comply with tax regulations. It's time to cut some of the red tape.
Stop trying to steer the economy. Markets have proven to be pretty good at picking economic winners. Rather than trying to use tax policy and other forms of government incentives to support one industry over another, now is the time to let markets work.
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