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The Economic Stimulus Package Can Help YOUR Business

Written by: Stefan Doering

Article Overview: Taking Obama’s strategy to the next level is encouraging the “risk takers” to step up. They are the entrepreneurs and small businesses. Entrepreneurs and small business owners are agile, hungry for success and quick on our feet, unlike our cousins the large companies, who are busy circling their wagons, laying people off and retrenching. I cannot emphasize enough how important a time this is for us all in our businesses. It is during these economic downturns that businesses and markets reinvent themselves and evolve the markets and economy on to greater heights.

The Economic Stimulus Package Can Help YOUR Business

I don’t know about you, but I was impressed with how President Obama has put his political clout on the line in his unofficial State of the Union address.

There seems to be a growing agreement that instead of lying low and weathering it out, we need to, in my words, be UnReasonable, and play full out. And last night’s speech reiterates how much Obama is taking on compared to his predecessors. Some claim he is taking on more with fast, intelligent and aggressive gusto than any president had done in decades.

And just as the CEO of our country is doing, if your business is slumping— you are losing money and sales have slowed down dramatically— you have only two options: hunker down, reducing expenses and hope things will improve, or you can get busy with reinventing and innovating.

If you’re really good, you do both.

Taking Obama’s strategy to the next level is encouraging the “risk takers” to step up. They are the entrepreneurs and small businesses. Entrepreneurs and small business owners are agile, hungry for success and quick on our feet, unlike our cousins the large companies, who are busy circling their wagons, laying people off and retrenching.

In hopes in encouraging the “risk takers”, the House of Representatives just approved some small business initiatives, especially for those who have “green” companies:

* Small Business Administration (SBA) loans being overhauled and new loan programs being set up
* Various alternatives to traditional banks loans are being set up
* Tax relief programs for small businesses have been implemented
* $56 billion of stimulus money is available to help various “green” companies get a foothold

For more on this, read Fast Company’s How the Stimulus Package will help Small, Green Businesses Help us All

I cannot emphasize enough how important a time this is for us all in our businesses. It is during these economic downturns that businesses and markets reinvent themselves and evolve the markets and economy on to greater heights.

After all, some of today’s business giants such as General Electric, IBM, Kraft, McDonald's and Walt Disney were started in recessions.

So why not your business?



Action Steps for the Week:

If your key concern is to stay ahead of the pack and tap into an incredible market of opportunities, I strongly recommend you research what is really hot out their right now and determine what it will take for you to adjust your business model to step into this.

Make sure it is something that really inspires you into action.

Then determine what you will need financially to get initiative going. If you have a plan and need capital for it, then work your plan and get your numbers together on how much it will take and what will be the results.

Use these tools to help you:

* review tax benefits that apply to small businesses. Read BusinessWeek’s The Stimulus' Key Small Business Tax Provisions
* review strategies on how the stimulus package might benefit your business. Read The New York Times’ Stimulus Law Aids Small Business, but Benefits Are Not Easy to Find
* for alternative energy businesses, check out RenewableEnergyWorld (website) US House and Senate Move Forward on American Recovery and Reinvestment Act

Remember to stay focused on designing your new model of success and remember to be UnReasonable!

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  Is California’s Economic Woes a Glimpse of the Future?

Article Tags: business initiatives, economic downturns, foothold, gusto, loan programs, next level, obama, political clout, predecessors, risk takers, sba loans, small business administration, small business owners, state of the union, state of the union address, stimulus package, tax relief programs, traditional banks, wagons, weathering



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