• NASE Joins National Celebration Of Entrepreneurs
• SBA Criticizes Bush Budget
• Small Businesses See Fewer Costs In 2006
• Nase.org Offers Free Tax Advice

NASE Joins National Celebration Of Entrepreneurs

The NASE joined organizations from coast to coast last week to honor the nation’s small businesses during EntrepreneurshipWeek USA. As part of the festivities, NASE participated in a national teleconference in conjunction with the Association for Enterprise Opportunity (AEO). Legislative Office Executive Director, Kristie Darien, spoke about empowering micro-businesses to become smart health care consumers and the importance of health care legislation that levels the playing field for micro-business. “There was a lot of momentum in the 109th Congress for helping to repair the nation’s health care system, but real concrete plans failed to materialize,” she said. “Reform of our health care system has been a prominent subject discussed in the new Congress, so we’re hoping to see that movement turn into some actual tangible results for the self-employed.” The NASE also attended a Washington D.C. policy summit. Top policymakers discussed and made policy recommendations on other issues affecting the self-employed, such as immigration reform, minority enterprises, litigation and regulatory reform, and the role of quality education programs in producing future entrepreneurs. U.S. Secretary of Labor Elaine Chao was on hand to highlight the contribution of small businesses to the nation’s economy, which she called the most productive of any industrialized nation. EntrepreneurshipWeek USA included content and activities from more than 1,000 Entrepreneurs, government officials, university and non-profit leaders, educators and economic development officials. For more information on EntrepreneurshipWeek USA, please visit their website at http://www.entrepreneurshipweekusa.com/noflash.asp. SBA Criticizes Bush Budget The head of the Small Business Administration (SBA) is at odds with President Bush. Last week, SBA Administrator Steven Preston called the Administration’s fiscal recommendations “insufficient,” citing continued financial cuts to the agency, which has received a forty-five percent decrease in funding since 2001. Within the Administration’s financial roadmap is the reduction of fees on 7(a) and 504 loans, among others, but critics say it lacks funding for these programs. Additionally, it recommends cuts to small business educational programs and resources, including reduced funding for Small Business Development Centers and Women’s Business Centers. The SBA aired its grievances at a Senate Committee on Small Business & Entrepreneurship hearing last week, during which Chairman John Kerry pointed out changes to the Administration’s approach on microloans; the program’s capacity will be set at $25 million but receive no financial support. “The budget proposes to make the program "self-funding," while eliminating the complementary business counseling or technical assistance grants and sending those borrowers to the SBA's other counseling programs, programs that were cut or flat funded again this year, “ Kerry said. “How can the SBA expect the SBDCs and the Women's Business Centers to counsel those borrowers when these centers haven't gotten additional funding?” The budget plan also eliminates the New Markets Venture Capital Program, which provides entrepreneurial support in low-income areas; provides no new funding for the Disaster Loan Program, which was forced to seek financial assistance to continue operations four times; cuts funding for assistance programs like the 7(j), HUBZone, and Native American Outreach programs; and lacks the resources to increase Procurement Center Representatives, who help small firms secure federal contracts. To read the Committee’s response to the 2008 budget proposal, visit http://sbc.senate.gov/record.cfm?id=268588. Small Businesses See Fewer Costs In 2006 Increased awareness and vigilance on part of federal agencies saved small businesses more than $7 billion dollars in 2006, according to a recent report by the SBA’s Office of Advocacy. The Report on the Regulatory Flexibility Act FY 2006 aimed to determine the economic impact on the nation’s smallest firms if agencies were more mindful of the consequences of new regulations to these firms, which is required under the Regulatory Flexibility Act (RFA). Officials at the SBA say that the report details oversight of the RFA’s implementation, which also requires agencies to examine significant alternatives that minimize small entity impacts while still meeting the policy objectives of the regulation. An executive order signed by President Bush works with the RFA by requiring agencies to alert the Office of Advocacy of proposals that may have negative consequences for small entities. The order also requires the Office to provide training on how to comply with the RFA. The entire study is available on the Office of Advocacy’s website, at http://www.sba.gov/advo. To comment on proposed regulations relating to small business, visit http://www.sba.gov/advo/laws/law_regalerts.html. Nase.org To Offer Audio Tax Advice The countdown to Tax Day is near and the next several weeks will go by faster than you think, according to NASE TaxTalk advisor Keith Hall. Starting March 9th, we’re offering free tax assistance in downloadable, audio format to make filing your return a little less painful. Topics include: Getting An Early Start Choosing A Tax Professional Tips For Doing Your Own Return The Home Office Deduction Last Minute Tax Tips How To Get A Tax Break For Making A Contribution Into A Retirement Account Using Independent Contractors Filing As An Independent Contractor Travel Expenses: What You Can Deduct Business Use of Automobiles Tax Tips For Next Year For more information on the NASE’s TaxTalk program, please visit http://taxtalk.nase.org/taxtalk.asp.