The president of the National Federation of Independent Business says small businesses are feeling very optimistic right now, in large part because of the GOP's planned tax overhaul. However, John Arensmeyer — CEO of the Small Business Majority — stopped by to explain why not all of them are happy.
Why the GOP tax plan won't help small businesses
Letter: Most small businesses won't benefit from current tax bill
Tax-reform plans won’t help most small businesses. As a small business owner, I’m extremely disappointed by the House and Senate’s plans to drastically alter the tax code. Despite promises to provide a boost to small businesses and the middle class, their proposals will instead benefit large corporations and the wealthy.
From dread to optimism: Employers' mixed reaction to mandatory paid leave
Frank Kerbein's phone has been ringing off the hook. As director of the Center for Human Resources at the Business Council of New York State, he's been hearing from business owners concerned about a sweeping state law that starts Jan. 1. It mandates partially paid leave of up to 12 weeks for workers caring for a new child or helping out when a family member is sick or on active military duty—and protects their job and health benefits.
"It takes the burden off small employers so they can use the resources they would have paid employees [on leave] to hire someone else,...
Tax Bill won’t boost small firms
As a CPA and small business owner, I know first – hand how bad the tax bill will be for small business. Despite promises to provide a boost to small business and the middle class, they proposals will instead benefit large corporations and the wealthy.
Government shutdown averted — for now. Here's why small business owners are keeping watch.
As Forbes reported, small business loan approval rates at big banks dropped by nearly 20 percent between September 2013 and October 2013, going from 17.3 percent to 14.3 percent. Loan approval rates at small banks fell from 50 percent to 44.3 percent. That put many small business owners in the position of having to pay for bills out of pocket, said John Arensmeyer, founder and CEO of advocacy organization Small Business Majority.
“Many businesses are extremely dependent on SBA loan programs,” Arensmeyer said. “A lot of it is timing. If you’re a business owner trying to open a new...
4 red flags in the GOP tax bills
The House bill proposes a complicated rule with an alternate workaround that would govern how much a business owner's income must be taxed as compensation, and how much can be taxed at the lower proposed business rate.
"The House bill is incredibly complex. They talk about making it simpler. But it's crazy complex," said John Arensmeyer, founder of the Small Business Majority, an advocacy group.
ENEWS: ‘Tis the Season, for Supporting Equitable Growth!
Quote of the Week— "This proposal (U.S. House tax bill) would primarily help wealthy individuals rather than small businesses" ––John Arensmeyer, CEO of the Small Business Majority.
Tax Reform Could Harm Small Business, Advocates Contend
The rewritten Senate plan now increases the deduction for income of qualifying pass-through businesses from 17.4 to 23 percent, according to the Tax Foundation. Despite this, Small Business Majority Founder & CEO John Arensmeyer stressed in a statement that the tax reform bill overlooks the needs of small businesses. “Under this plan, the vast majority of the pass-through tax cuts will go to the wealthiest 2.6 percent of enterprises, not to Main Street small businesses. Meanwhile, small employers will be saddled with a $1.5 trillion hit to the deficit and an uneven playing field that...
Opinion: Letter to the Editor: Healthcare Options
There is a lot of confusion and misinformation right now about the future of the Affordable Care Act (ACA) and open enrollment for purchasing healthcare through Healthcare.gov. Many solo entrepreneurs and small business employees rely on the ACA marketplaces for their health insurance, so it’s crucial that small business owners learn about their options and get covered early.
Business Organization to Host Women’s Entrepreneurship Seminar
If you are a woman who owns a small business based in Chicago, here’s good news. The Small Business Majority, in conjunction with Accion, will present a free seminar aspiring entrepreneurs and women who own small businesses.
The event, which takes place Tuesday in Chicago, includes an “interactive presentation and discussion with experts as well as local business owners,” according to a press release sent to EBONY.
Geri Aglipay with Shalom Klein on Get Down To Business
Geri Aglipay and Dr. Mitch Weisberg joined Shalom Klein on his weekly radio show, Get Down To Business, to discuss Small Business Majority and SimpleGrowth.
Tax cuts will be ‘plowed right back into’ small business: SBA’s Linda McMahon
John Arensmeyer, founder of the organization Small Business Majority told Varney on Wednesday, “This isn’t about partisan politics, it’s about doing what is best for small businesses and right now the way the law is written is that the vast majority of the benefits are going to go to hedge funds, real estate investment trusts (REITs), and others at the very top end of the income spectrum while very little is going to go to Main Street small businesses,” Arensmeyer said on “Varney & Co.”
Todd and Michelle Trotter: Tax bill must be changed to help small businesses
Dear Editor: As fellow small business owners, we hope Sen. Ron Johnson stands firm in his opposition to the Senate tax bill as it currently stands. He is right to note that the bill does more for large corporations than for small-business owners. The bill doesn’t close many of the loopholes for big business and widens the divide between them and small businesses, who are already on an uneven playing field.
GOP’s tax reform won’t benefit small business owners: John Arensmeyer
Small Business Majority founder and CEO John Arensmeyer explains how the Senate’s tax reform legislation -- which he said he does not support -- would affect small businesses, and why he thinks it could largely benefit hedge fund managers.
2 New Ads and ‘Open To All’ Website Launched Ahead of SCOTUS Anti-Gay Baker Case: WATCH
Recent research shows that small business owners support protecting LGBT people from discrimination. A new poll released in November 2017 by the Small Business Majority shows that 65% of small business owners believe businesses should not be permitted to deny goods or services to LGBT people based on an owner’s religious beliefs, and 55% of small business owners don’t believe that a business owner should be able to claim an exemption to nondiscrimination laws if they believe serving a customer goes against their right to free artistic expression.
Women Business Enterprises Call for Healthcare Solution that Works for Businesses of All Sizes
According to Small Business Majority, which served as an advisor on this project, this is especially important to note at this time during open enrollment. Small business owners are roughly three times more likely to enroll through the health insurance marketplaces created under the ACA, per the U.S. Department of Treasury.
“Small businesses generate two out of three new jobs in the United States and contribute to the strength of our economy,” said Geraldine Sanchez Aglipay, Outreach Manager of the Midwest Region and Greater Chicago for Small Business Majority.
Florida’s small businesses support LGBTQ workers, customers
The Small Business Majority poll, released Nov. 16, found 73 percent of small business owners were in support of a federal law protecting LGBT people from discrimination in restaurants, hotels and other businesses open to the public, while nearly seven in 10 said they would back a state law against employment discrimination for LGBTQ individuals.
Yes, paid leave laws can actually save companies money
Small businesses are generally bullish on paid leave. According to Small Business Majority’s March survey of businesses with 100 or fewer workers, 70 percent were in favor of a federal insurance program, funded by both employee and employer contributions.
“If you really go out and talk to the small employers, they say, ‘Of course give them the time off because I need them back and I need to retain the skilled workforce,’” says Erik Rettig, the policy advocacy group’s director of outreach.
Lawmakers should support small businesses during National Entrepreneurship Month
Improving access to capital is one of the most crucial issues for entrepreneurs. Small Business Majority’s polling found 90 percent of small business owners identify access to capital as a top concern. This finding is no surprise given that many small business owners are still struggling to access capital post-recession. And when small businesses are approved for loans, it’s often not for the full amount requested. In fact, the Federal Reserve found of those small business owners who did receive a loan, only half were approved for the full amount requested.
Letter: Taxes and small businesses
House Republicans finally unveiled their plan for tax reform and this small business owner is not impressed. Despite promises that the plan would provide a boost to small businesses, this will instead benefit wealthy corporations and individuals.
The biggest proposed boon to small business owners is the lowering of the pass-through tax rate to 25 percent. But my pass-through business would not receive a tax cut under this plan as deductions I rely on are eliminated, impacting my bottom line.