When the Ohio government talks about tax cuts, it is a good indication for the small business owner that things might improve a bit. Although some of the tax cuts in the past have been negligent, and hardly make a difference, one hopes that there will be one that will truly benefit the small business owner across Ohio. By giving small business owners tax breaks, the economy can improve and benefit the whole economy as a whole. For more about this and other topics follow the links below.
Small business improving in Ohio
Ohio’s small businesses reported a slight improvement in July, bucking a national downward trend, according to the Thumbtack.com Small Business Sentiment Survey, a monthly survey of independent local service businesses in the U.S., including 360 responses in Ohio.
Designed with Bloomberg, the survey is housed and integrated into the economic functions of the Bloomberg Professional service.
In that report, Portsmouth is listed as having multiple small business services available. Among those are business plan consulting, catering, commercial cleaning, DJs, event photographers, karaoke rental, magicians, makeup artists, photo restoration, photographers, tree trimming, videographers, wedding officiants, wedding photographers and wedding videography.
Opening doors for small business in Ohio
From the barbershop around the corner to the entrepreneur working solo to launch a business venture, small businesses form the cornerstone of Ohio’s economy. Small business owners comprise 98 percent of all employers in Ohio and employ half of the state’s private sector labor force. Large corporations may attract a sea of job applicants every year, but small businesses create every three out of four jobs in the state.
Clearly, there is nothing small about small business in Ohio.
The stakes are high for entrepreneurs and small business owners who face formidable start-up fees, a sizable tax burden and burdensome regulations in many states around the country. In traditional industries like manufacturing, Ohio has historically struggled to find the right balance of incentives to attract and retain employers.
Fortunately, times are changing.
This General Assembly, the Ohio Senate has taken several major steps toward creating a more favorable business climate for small businesses and attracting new investment to the state. We recognize the tremendous value of the innovation and hard work that small business owners bring to Ohio, and we can’t afford to give them anything less than our measure of support.
