Here’s a link to Obama’s plan for small businesses. His scheme centers on providing a small business health tax credit, eliminating capital gains tax for small business people and increasing access to small business credits for women and minorities. It’s unclear exactly how many of his goals for small businesses will be enacted. Some are skeptical: Forbes magazine yesterday published an article that said the small business initiatives in Obama’s economic stimulus plan weren’t going far enough.
“Businesses need tax incentives that will put money in their pockets right now. Yet few of the tax provisions being considered accomplish that to any significant degree,” says Dean Zerbe, a former senior tax counsel to Republican senator Charles Grassley, of Iowa.We can only wait and see to know how far Mr Obama’s economic plan will go to protect small business people, but one thing is certain: the new President will receive unprecedented good will in his first few months as he attempts to steer the country through its worst economic crisis since the Great Depression. Everyone in franchising will be wishing him the best.