February 21, 2020         
To Honor World Cancer Day, The WISDOM Study Seeks Support from Women to Modernize Breast Screening Guidelines   •   Public Counsel and Morrison & Foerster Announce Groundbreaking Settlement in California Literacy Lawsuit to Provide Immediat   •   Alliance for Women in Media, Foundation Announce 2020 Board   •   All About Ability Hosts "Able Awards" Ceremony For Commitment To Independence For Adults With Disabilities   •   Learn4Life Rings the Bell for its 20,000th Graduate   •   To Honor World Cancer Day, The WISDOM Study Seeks Support from Women to Modernize Breast Screening Guidelines   •   Fulton Mortgage Company Honored With First Annual Community Revitalization Award in Philadelphia   •   Hemp Depot Redefines U.S. CBD Farming Economics With 70% Reduction in Feminized Seed Pricing   •   The Michaels Organization and Highridge Costa Open Applicant Lottery for Hale Moena Kupuna   •   7,000 Bacardi Employees Turn on Their ‘Out of Office’ to Visit Hundreds of Bars Across the Globe to Spark Conversati   •   Legal Benefits of Using a Surrogacy Agency for LGBTQ Intended Parents and Others are Highlighted by New Utah Legislation, says G   •   The CEO of Mako Medical Announced That the Company Was Awarded for Its Military Programs   •   iPhone 11 Pro doubles radiation exposure deemed safe for consumers, according to new test   •   The Author Incubator Launches New Program for Spanish Speaking Entrepreneurs   •   Lovers, Sub a Sandwich for a Ring This Leap Day and Quiznos May Cater Your Wedding – Assuming They Say “Yes”!   •   New ESA ‘Game Generation’ Campaign Shows Video Game Play Brings Benefits Beyond Fun   •   Respecting Choices® Becomes First Advance Care Planning Program to be Approved as an Evidence-Based Program by the Administr   •   Comcast Celebrates the Year of the Rat With Continued Sponsorship of San Francisco’s Chinese New Year Festival & Parad   •   Lake Travis Independent Living Wins Best Senior Living and Best Senior Living Dining by Senior Resource Guide   •   Government of Canada and Inuit Heritage Trust unveil new artifacts from wreck of the Franklin Expedition
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Bill Helps Entrepreneurs Overcome Start-Up Costs

 WASHINGTON - Senators Mark Pryor, Scott Brown and Herb Kohl have introduced the bipartisan Small Business Savings Account Act to help entrepreneurs turn their innovative ideas into job-creating small businesses.

The bill allows individuals seeking to start a small business to save up to $10,000 annually and grow the savings tax free. These funds can be used for equipment, facilities, marketing, legal fees and other capital and operating expenses required to start and run a small business.

“Start-up costs often stand in the way between a good idea and a profitable business venture,” Pryor said.  “This legislation provides a bridge – allowing entrepreneurs to save enough seed money to get their business off the ground.”

“Small businesses are the driving force behind job creation and we should reduce the hurdles that cause industrious people to abandon their business plans,” Kohl said. “This bill provides a path forward with one of the first challenges encountered by prospective business owners.”

“Small businesses are the engine that drive our economy, and it’s critical that we create an environment for our entrepreneurs to grow and thrive,” Brown said. “This bipartisan legislation will make it easier for the thousands of innovators in Massachusetts to turn their cutting-edge ideas into good-paying jobs and get our economy going again.”

Personal financing is becoming increasingly important to start a business, especially in light of the current credit crunch and economic downturn.  Instead of savings, would-be-business owners are turning to retirement savings and credit cards in order to produce enough start-up capital. The average cost to operate a small business in its first year is $80,000.  The tax free start-up accounts would put entrepreneurs on better financial footing by reducing their need to incur heavy debts or deplete retirement savings.


STORY TAGS: GENERAL, BLACK NEWS, AFRICAN AMERICAN NEWS, LATINO NEWS, HISPANIC NEWS, MINORITY NEWS, CIVIL RIGHTS, DISCRIMINATION, RACISM, DIVERSITY, RACIAL EQUALITY, BIAS, EQUALITY



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