Congratulations, Mr. President. You've inherited quite a mess. But I'm not a gloom-and-doom type of person. To me, crisis truly does equal opportunity. Is there a single, magic bullet solution to America's economic, social and global challenges? Certainly not. But there is one basic step you can take to help move the US economy forward.
Simply put: Reward business leaders and corporations that create jobs. I've always respected entrepreneurs who risk their own money and launch new businesses.
But now that I'm co-owner of a growing business, I have even deeper respect for entrepreneurs and executives who actually create jobs. The natural temptation for many small businesses is to avoid making a new hire until it's absolutely, positively, 120 percent necessary.
Alas, many small-but-growing businesses may hesitate to make new hires in the current economic climate. But Mr. President: If you reward us with tax breaks and incentives, entrepreneurs will be more inclined to hire the talent they need to grow their businesses.
You've publicly stated plans to invest in our country's technology infrastructure -- which could be good news for managed service providers, notes Zenith Infotech's Maurice Saluan.
No Handouts NecessaryAnd back in October 2008 you announced a Small Business Emergency Rescue Plan. I'm not asking for a bailout or a rescue plan. Rather, just give entrepreneurs a common-sense financial incentive that rewards small businesses each time they move talented people from unemployment to payroll, or add incremental headcount to their organizations.
The goal: Make the tax breaks big enough to drive small business hiring, but small enough so that Uncle Sam has a net financial gain as those new hires leave the unemployment ranks.
In recent months, my confidence in financial services firms, Wall Street and Detroit have been shaken. But my confidence in America and its entrepreneurial spirit remain strong.
And for good reason: Some of America's greatest businesses were launched during recessions or bleak economic times, notes Ingram Micro's Justin Crotty. Put your trust in small businesses today, Mr. President, and they'll become tomorrow's Blue Chip companies.
Best wishes, Mr. President.
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