At times like these, franchisors and small business owners need to be heard on a national level by politicians and interest groups about the need for government to support the America’s small business sector. We’ve certainly heard a lot from the likes of Goldman Sachs in recent months. So congratulations IFA Chairwoman Dina Dwyer-Owens for addressing Capital Hill recently.
The timing is urgent. A range of tax breaks that provide a much needed lifeline to franchises and small businesses during these times of economic hardship are set to shortly expire.
Since the economy went into recession, Congress has enacted numerous provisions that have helped small businesses avoid some of the worst effects of the downturn,” said IFA Chairwoman Dina Dwyer-Owens told the House Small Business Committee. “The nation is only now starting to see signs of recovery, and those fragile businesses that operate in your communities need these programs to continue.”
The Joint Committee on Taxation say that at least 25 major tax incentives are set to expire on December 31, 2009, with a raft of others going by the board next year. No one know how long it will take the economy to recover.
“Extending this provision will entice franchise business owners to reinvest in their brick-and-mortar facilities. This will create a tremendous spill-over effect on other industries,” Dwyer-Owens said.
We interviewed Ms Dwyer-Owens earlier in the year and found to be an informative and insightful speaker on franchising. Let’s hope the House of Representatives take her suggestions on board. Allbusiness.com have more on the story on their website.