Some Small Business News Out of DC

congressMy choice for “Paper of Record” is the Washington Post. While others may prefer the NY Times or the LA Times, my preference to the Post is probably influenced by my focus on government contracting in the small business arena. Washington DC is the center of gravity for business policy effecting small businesses, such as the implementation of health care reform, veterans business issues, et al.

Allow me to share some interesting news from an article, Small business weekly. Small business owners and veterans may find some of these trends and current events at least topical if not actually impacting your business now.

Suddenly small: The Small Business Administration last week announced that it would adjust its small-business size-standards for inflation, lifting the cap on either receipts or assets for 487 industries. Consequently, roughly 8,400 previously large companies can now apply for resources restricted to small businesses.

Supporting more soldiers: The SBA also announced plans to expand its post-military entrepreneurship training program, known as Boots to Business, opening up the course to any interested veteran, not just returning troops. The rollout will start with classes in a dozen cities around the country, starting in Washington, D.C. on July 11.

Catching a break: The House last week easily approved legislation that would make permanent a tax break allowing small businesses to write off up to a half million dollars in equipment purchases. However, the bill faces an uphill battle in the Senate, where Democrats have pushed back against tackling tax reform one small piece at a time.

Upbeat on Main Street: Optimism among small business owners jumped last month to the highest level since 2007, according to the latest report by the National Federation of Independent Business. It marks the third straight month of improvement, a sign that small employers may accelerate hiring and investments in the second half of the year.

Home sweet home: Small business owners in Idaho, Texas, Utah and Virginia give their states the highest ratings in overall friendliness to small businesses, according to a new study released by Thumbtack and the Kauffman Foundation. Meanwhile, owners were far less pleased in California, Illinois and Rhode Island.

From The Washington Post article “On Small Business; Small Business Weekly: Health care, tax breaks and veteran entrepreneurs” written by J.D. Harrison, June 16, 2014.