Assignment 1 Small Business Opportunities Example | Topics and Well Written Essays - 750 words

1 Small Business Opportunities - Assignment Example Lending fund to small businesses and to the consumers at low rates is more profitable since more businesses will borrow thus providing fund to more small business (David, 2007). Lending of fund will expand the small business and the consumers and other retailers will benefit thus generating income and the economy becoming healthy. The federal government can use tax toolkit to consider my business and other type of businesses to boost the businesses in the market. Lower tax cut can be a powerful boost of the small business as an encouragement to ensure its continuity in the market. Another booster of small businesses is to give direct contract to them which will make it easier for the businesses not to compete with other large companies in the area (John, 2013). The federal government should advocate for direct contracts to small business so that they can encourage it and boost it. Historical underutilized business zone (HUB Zone) increases the chances of landing a government contract (Michael, 2004). The program encourages small businesses which are designated in high unemployment, where low income earners are granted contracts by the federal government. One of the criteria that I need to meet for my small business to be under Underutilized Business Zone is that the business must be owned and controlled by 51% of United States citizens. Again the business must have an office in HUB Zone and the employees of the small business must be living in the HUB Zone. The federal government has set a side $2,500 to $100,000 to small businesses. Since the business is in United States, I have the opportunity to get the contract from the federal government thus boosting the business. Since I have qualified to submit the relevant document for my business to become a HUB Zone company, then the federal government can offer HUB Zone contracts. The use of Smart Pay program manages a set of master contracts through