President Obama has introduced a jobs bill to Congress. The bill would provide $447 billion in jobs funding and tax cuts. Ambitious small-business owners would get an extra boost with the new jobs bill. Business owners in every state would have tax credits and extra advantages. Resource for this article: Jobs bill would extend assistance for small business startups

More money and training provided

There are a few states that are using the joblessness program called the Self-Employment Help Program. Both money and training is provided with the program. Small-business training is offered to those who are unemployed including business plan writing and market research. The biggest factor, however, is money. SEAP recipients obtain more money from their joblessness funds to start businesses. The money is dispersed differently although the cash is still from the individuals’ joblessness funds. With the jobs bill, all states would have programs like this. Every person will have access to them.

Keeping in smaller businesses helps the economy increase

The jobs created in a bad economy mostly come from small businesses. In Oregon, which runs a comprehensive SEAP program, successful business people create an average of 2.63 additional jobs. As reported by the White House:

SEA participants were 19 times more likely than eligible non-participants to be self-employed at some point after being unemployed and four times more likely to obtain employment of any kind.

Bill is good for all small businesses

Lots of benefits will be given to individuals who already have smaller businesses. President Obama’s jobs bill might be really great for these individuals. Up to $5 million in wages paid would be taken away as payroll taxes would be halved. Companies who hire a brand new individual that has been unemployed for over 6 months will not have to pay any taxes in 2011 for that person. Instead of a long-term deduction, the deduction will be instant for the businesses. Small business will end up paying less in taxes in conclusion.

Getting the funding is the hard part

Since individuals have challenges finding cash to start up a business, SEA Program funding was created. It seems impossible to discover cash to start a business for any person that is unemployed. Good credit history and startup capital, the two things usually needed to start a business, are often not accessible to young business owners or the unemployed. SEA funding helps provide an additional boost for some. If you think you might qualify for SEAP and live in a state currently with the program, contact your unemployment representative to discuss possibilities.

Information from

Whitehouse.gov

Time Moneyland

LA Times

Oregon.gov

Washington Employment Security Department