Wednesday, July 9, 2008

Tax Breaks A Boon For Small Business?

The New York Times ran an article yesterday "With Stimulus Package, the Big Winner Could Be Small Business", which discussed how the government's tax cuts could help small business more than any other economic sector.

There is so much conjecture out there about how to weather this economic downturn. Some advocate the retreat/retrench approach as the future is uncertain. Others advocate the spend, spend, spend approach because the economic stimulus package will benefit your company in the long run.


Be proactive. Successful business owners are aware of their opportunities and are in a constant state of evaluation.

A looming economic crisis doesn't mean you close the shutters and wait for the storm to pass. It means you prepare - you figure out your plan of action. If the storm hits, you take a specific action based on your plan. And then you have to be in a constant state of evaluation to plot your next move based on the direction the storm is moving, how close it's hitting to home, the severity of it and more. While we aren't always able to predict these things, being prepared will go a long way toward your business making it through unscathed (or only with minor injuries).

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