There have been small business assistance programs were launched in the past, but recently President Obama has outlined some proposals that may offer tax credits and benefits for companies who hire unemployed workers or there may be more savings that can be gained from these tax credits that could potentially lead to hiring and future. Obviously, when it comes to businesses looking for capital, small business loans have been one of the main issues where companies have said problems are still present, as there are small organizations that are looking for financing options to further their efforts.
While SBA loans and private lenders are some of the more popular options when it comes to getting financing, small businesses have turned to credit unions, online small business loan opportunities, or even investors as a way to get the capital they need in hopes of expanding and growing. Yet, it’s hoped that if these tax credits are passed, or the final version of the jobs act currently in place offers some form of incentives for businesses, that employment will begin to improve since some companies either do not have the capital to hire, want to expand but are uncertain about the future of the economy, or are still in early stages and may benefit from certain incentives when it comes to growing to a point where new workers will be needed.
Currently, some of these proposals in terms of tax credits that have been put on the table will help businesses who hire long-term unemployed individuals and there are proposed payroll tax cuts that could help companies that are smaller in size and may take a bigger hit when it comes to paying this particular tax. Some of these incentives are hoping to not only put money back in the pockets of businesses but of workers as well, as there are many areas of the economy that potentially will see improvement if current employees have more money to spend on goods and services and businesses are able to offer these earning opportunities to unemployed men and women, who in turn might be able to put more money back into the economy as well.
However, these small business assistance proposals have yet to be acted on and it could be some time before Congress moves on this issue due to the fact that there will likely be debates on what proposals should be passed and where changes may need to be made. There are businesses still looking for capital though, and it’s hoped that these incentives will be able to help in these regards, but businesses are also being reminded that borrowing options, while they may be constrained in some areas, are still available from a variety of sources and, for those looking for this particular type of financing, exploring opportunities from national banks, local lenders, or even online opportunities may help businesses at the present time achieve certain goals that will push them forward in the direction of prosperity and the ability to hire.