Small businesses are very important to President Obama, this is why he has created various programs to help those that own small businesses. In this article we will discuss these programs and what they can do for you.
These programs provide many benefits for those that own small businesses. These plans do not only make it easier for small business owners to own their own business, but they also provide ways in which they are treated more fairly.
Various Tax Cuts
Since President Obama has been in office, there have been a total of 18 tax cuts for small businesses. There have been various tax cuts on key investments with small businesses, which is nice because it allows the business owner to not worry as much when tax season comes around.
Obama Provides Access to Capital
The SBA is the main program that small business owners go to for capital. This program helps provide capital for any type of business. Since Obama has been in office, the SBA has been moving more capital than ever.
Maximum Loan Sizes
Another thing that has happened with the SBA is that the maximum loan sizes are nearly double what they used to be. Obama has played a large part in this because of the amount of loans that have been processed.
Improved Tax Credit For Health Care
If you are a small business and provide health care to your employees, certain Obama programs can help you to have improved tax credit and this can help you to easily save money on taxes in the long run which is nice because taxes can often take a lot of money.
The QuickPay Initiative
President Obama has launched the QuickPay initiative which is helps easily and quickly provide payments to subcontractors. This is nice because it allows the work process to flow smoothly and quickly without any problems.
The SupplierPay Initiative
This is another program that was developed by Obama. This program’s main purpose it to serve the private sector by increasing their capital. This has a lot of benefits, although the main benefits are that these companies can then grow and hire more employees.
Small Business Contracting
There is a transparent small business contracting plan as well. This reduces contracting payment and processing so it makes the whole process quick and simple. This is nice because small business owners are often faced with this problem.
President Obama Presents BusinessUSA
This is the the program that the president has spent most of his time and resources on. This program is essentially a one-stop program which provides any and all of the information any small business owner needs to know in order to go their business. Here is some of the information available with this program:
- Tax information for small businesses
- Employer regulations for hiring and things they must provide
- Choosing an entity
- How to easily raise capital