Small Business Planning During an Uncertain Economy [Commentary]

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Small Business Planning During an Uncertain Economy [Commentary]

Jan 04, 2012
Posted by Kristie Arslan -There's no doubt that we face uncertain times with our economy. Unemployment levels are still high. The stock market has had a rollercoaster year. While Congress finally overcame its political bickering to pass a two-month extension of the payroll tax, it can't be motivated to act on other initiatives that could aid our economy -- especially big ticket items that could help the self-employed. But one thing is certain: small and micro-businesses, the driving force of our economy, must protect themselves every day by planning in advance.

It's a common assumption that large corporations make up the majority of the American economic landscape, but this is simply not true. Our nation's self-employed and microbusinesses are just different than the "small business community" that contains 500 or less employees. The self-employed must plan differently to ensure their long-term success and ability to continue to be major economic contributors. Fortunately, there are resources available outlining simple planning steps businesses can take to ensure longevity.

With such economic uncertainty, taking the right steps in planning for a small business's future is key. The self-employed and small-business owners of America encourage Congress to extend the payroll tax cuts for an entire year so there's one less thing we have to accommodate for in our plans for success.

This entry is cross-posted on the Huffington Post.
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