There’s lots of talk about small busines stimulus since everyone wants to get a piece of that pie. I think the Obama administration is doing a great job managing all the balls in the air considering it’s just been a bit over two months since they’ve been in office. But we small business owners want more — faster!
SurePayroll conducted a survey this month and found that three out of four small business owners say they would rather see the government enact simple tax cuts than the recent stimulus initiatives created to stimulate the small business economy. In other words KISS it, please. (Keep It Simple Silly) Here are some other results from the survey news release:
- The majority state that the stimulus initiatives are the wrong way to approach improving things, indicating that President Obama has not convinced small business owners that his administration understands the real triggers behind jump-starting the small business economy. Most business owners don’t believe the provisions apply to them, and even if they did, they don’t know how they would take advantage of them. That explains why more than 60% rated Washington, D.C. as failing to help the small business economy with the recent stimulus provisions, giving the administration a four or below on a scale of one to 10 (one being not at all effective and 10 being most effective for helping spur small business growth).
“Small businesses employ an estimated 59 million members of the U.S. workforce, so the administration would be wise to listen to what they are saying,” says SurePayroll President Michael Alter. “Right now they’re saying that they need simple tax cuts – not more provisions that don’t seem relevant. Not only does the administration seem to be out of touch with the small business market, but Obama’s team needs to reconsider their communications strategy, as those who may be interested in taking advantage of the provisions don’t know how to.”
Small business owners voiced their concern over specific initiatives outlined in the stimulus package and say the government should do the following if they really want to help small businesses:
- Determine better ways to stimulate the small business economy. More than 64% of survey participants indicated that none of the recently enacted stimulus provisions for small business would apply to their small business.
- Communicate how SMBs can take advantage of obtaining loans/capital as a result of the stimulus plan. While some businesses could benefit from the stimulus plan, an overwhelming 72% majority said they would have no idea how to apply for or access loans/capital as a result of the recent small business stimulus initiatives.
- Implement small business tax cuts. Three out of four small business owners find the idea of a tax cut preferable to anything in the stimulus package for small business.
“The government is trying to help small business, but they’re headed in the wrong direction,” says Alter. “Now it will just depend on whether or not they choose to listen to this valuable feedback from small business owners.”
This sentiment was echoed on a recent article over at the OPEN forum about the small business stimulus plan. What are your thoughts?