Small Business vs. Congress
How many new business entrepreneurs are aware that “The Restoring American Financial Stability Act of 2010″ that was passed by the Senate in May, contained legislation that would virtually cripple Angel investments? As the bill stood just before passage, it would have required a 120-day regulatory (federal) review of Angel deals, double the net worth standard for Angel certification, increase the income standard from $200,000 to $450,000 per year for certification, and demand more red tape and regulatory review at the state level.
Were you aware of any this going on in the Senate?
It doesn’t take a great deal of analysis to realize that this legislation would have wiped out a large segment of available new business startup money. (An Angel cannot invest in your business without certification as a qualified investor.) Washington acts (regardless of the rhetoric) as though America no longer needs any small business startups.
Fortunately, Senator Kit Bond (R-Mo) came forward in time to write and force passage of an amendment that “postponed” most of the Angel Investor legislation for four years. One of the regulations that remains is the elimination of the inclusion of an investor’s home in the $1 million dollar net worth calculation required to be certified as an Angel Investor.
Another bullet dodged (just) by small business. It is obvious the people on Wall Street control the folks in Congress, and few of either of them has much regard for the small business entrepreneur.
It is up to each and every small businessperson to stay vigilant and be aware of what is happening in Washington…and then make our voices heard. No one else will do it for us.
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Does Anyone Care?
Wars, prejudice, racism, egos, hunger, violence, unemployment, and on and on—all the things our modern media machines grind out daily…and all the things our governments spend their time and our taxpayer money on. Where is the balance? Where is the hope? Who is actually doing anything to make our world a better place to live…and where are their stories?
Well, here is one:
(email subscribers view on my blog)
I’ve written about Mark Johnson before…he is one of my favorite entrepreneurs…but if you missed it, you can check it out here. This is one person that every aspiring entrepreneur would do well to study.
Please enjoy.
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Time Out!
The news media has inundated us with so much doom, gloom, hate, and anger, that I’m going to take a Time Out! So, this weekend (maybe longer) I am going to stop watching any news, and simply……..
Try it—maybe you’ll like it!
Bob
Back Online!
It’s been a real headache, but I am finally back online. It seems the house we moved to had a bad underground cable, and a construction crew had to pull a new cable across the street and through our yard. Many visits by the cable company finally got the service working, so I’m now up and running (and looking at many, many unopened emails).
Hoping to have a couple of interesting things ready to post early next week.
Downtime
Well, my office is all packed up and I will be turning off my Internet service momentarily. We are moving to Ojai, California, and it will likely be a week or more before I have my office and Internet service operational again. In the meantime, I’m sure there will be many challenges directed at small business, so there will be many topics to tackle when I get back online.
Good luck in all your ventures, and I’ll be back soon.
Bob
President Obama’s School Speech
With all the furor over the speech our President is about to give to school children, I am wondering if America has lost its way. Between ignorance and the effect of “fomenters,” we have certainly lost the ability to exercise public debate. What a shame.
For anyone interested–here is the text of President Obama’s upcoming speech.
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