Thursday, September 30, 2010
Los Angeles city officials vow to aid small businesses
Los Angeles is finding a way to help its small business owners and entrepreneurs in the current uncertain economy. The creation of jobs will prove to be the engine to recovery from the recession. A small-business team has been organized to support small businesses and help them go about the city's labyrinthine permit and tax procedures. They want to create awareness of the opportunities that exist in LA for small businesses (including non-profits offering free consulting services and private banks making grants available to some small businesses and start-ups). The government is also arranging information sessions on how to obtain funding in the tight credit economy and provide advocates for small businesses in order to give them a voice. This small-business team seems like a great step in the direction of recovering from the recession. It will help create jobs, lower unemployment, increase consumer spending and thus stimulate the economy.
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Are there any criteria required by the city for small businesses to receive aid? Also, how will the aid be regulated and from where are the funds coming?
ReplyDeleteThe small-business team is more like a consultation group that will help entrepreneurs and small-business owners walk through the process of receiving grants, paying taxes and the like. So the city government is not exactly giving out aid but is helping navigate the way to better business. Also, the city's move comes at a time when small-business initiation is already taking place. President Obama signed the long-awaited legislation to spur loans to small businesses, cut their taxes and help to fund nonprofit small-business development centers. So the program will help small-business owners and entrepreneurs better understand and make the most of the business opportunities available.
ReplyDeleteThe job market in California is awful so this really seems like a good idea. I think this will help a lot in building success and will help to increase the number of jobs available.
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