Small business ownership is one of the critical components that makes our country and state strong. As a small business owner, I will work to strengthen our small businesses as well as create avenues of accessibility for potential business owners. As an entrepreneur, I have firsthand knowledge and experience of the daily struggles facing small businesses. To begin, we must identify and address the three areas that create the most financial hardship for business owners: Taxes, insurance, and payroll. Lowering taxes for small business owners can alleviate barriers to sustainability. Expanding the current tax abatement from one year to a potential 3 years gives time for businesses to find stability.
Small businesses need the freedom to conduct their own business to truly thrive. Increased regulations, higher corporate taxes, lockdowns, and mandates favor larger corporations. Regulations must be loosened to allow for the creation and sustainability of new businesses in our state. Loosening regulations on loans for new ventures and new businesses will allow more entrepreneurs to take the leap of faith to move forward in our dreams. This leap can be one of the scariest things to do from a financial standpoint; Making it easier will allow more people to attempt business ownership. Lowering taxes on smaller businesses, local corporations, sole proprietaries, and push-through taxes will ease one of the highest burdens on these businesses. New businesses and ventures should receive a 5 year tax abatement to give them the best chance to establish themselves before this burden is placed upon them. This is a policy that has already been enacted by some cities and large corporations; Facebook, Microsoft, Google, Amazon have all been offered these.
The past few years have caused unprecedented hardship for small business owners. The lockdowns we faced in 2020 forced many small businesses to close, while creating record profits for corporate giants such as Walmart and Amazon. These lockdowns were unjust and unlawful as they allowed large corporations to flourish while small local businesses were squeezed and suffocated. Our governor chose winners and losers by deeming which businesses and workers were essential or non-essential. Every job that puts food on the table and keeps a roof over heads is essential. Mandates forcing businesses to require masks and vaccine passports are, likewise, unjust. They place undue strain on small businesses by lowering the amount of potential customers. Businesses should have the right to decide how to regulate their clientele. They have the right and freedom to require vaccines and masks if they so choose. Their customers, in turn, have the right to choose whether to give them their money or not. This is the foundation for freedom and autonomy in business. The local, state, or federal government should not override the individual liberties of small business ownership.