found money for entrepreneurs and small business - understanding tax credits, incentives, stimulus...
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Found Money For Entrepreneurs and Small Business - Understanding Tax Credits, Incentives, Stimulus and Strategies of Federal, State and Local Programs - Speaker: Bill Bates, Dan WeeverTRANSCRIPT
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Stimulating Your Search for Stimulus
Bill BatesBates Public Affairs Consulting
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Today’s Key Takeaways
• Stimulus bill (and government, generally) offers small businesses many grant, contract and loan opportunities for those dedicated to pursuing them
• Best opportunities may not be winning the business, but partnering with the winners
• Government bureaucracy is daunting – relationships can make it productive
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ARRA at 20,000 Feet
• Stimulus Bill = American Recovery and Reinvestment Act (“ARRA”)
• ARRA Goals: Jobs, Economic Growth & Transparency• Enacted 2/19/2010 for implementation over many years• www.recovery.gov• $787 billion of federal spending (65%) & tax relief (35%)
Tax relief - $288 B available/$93 B paid out Agencies/Entitlements - $224 B/$109 B Grants/Contracts/Loans - $275 B/$77 B
• State & local governments are big recipients
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ARRA at 10,000 Feet
Selected Business Tax Incentives• Bonus Depreciation – faster/bigger write-off for
2009 new capital expenditures for all businesses• Enhanced Business Expensing – even
faster/bigger expensing for new and used capital expenditures; was for small business, now all
• 5-Year Carryback of Net Operating Losses for Small Businesses
• New Incentives to Hire Unemployed Vets & Disconnected Youth – 40% of 1st $6,000 wages
• Energy Incentives for individuals & businesses
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ARRA at 10,000 Feet
• Roads, Bridges & Transit
• Water, Wastewater & Environmental Infrastructure
• Clean & Renewable Energy
• Housing• Small Business &
Economic Development
• Job Training & Employment Services
• Healthcare• Childcare• Education• Public Safety & Law
Enforcement• Arts• Nutrition Assistance• Telecom
Where ARRA spends:
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Stimulus for Small Business Administration
• $375 million to lift fees on SBA loans and raise loan guarantee rate to 90%
• $255 million for new loans to small businesses needing to pay existing debt
• $30 million to expand microloans• If you’re in loan queue, you’re probably
okay for ARRA treatment
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ARRA on Runway“Where the Rubber Meets the Road”
Advice on going after stimulus:1. Use industry association information to
avoid wading through statute2. Use congressional offices3. Build agency knowledge & relationships4. Grants.gov & Fedbizopps.gov (fbo.gov)5. Use SBA to get educated on the “art” of
government contracting
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Healthcare Stimulus Strategy Example
Client question: “Are we missing out?”Starting point: What business sectors can client serve, and
what specific projects might merit research?Next step: Industry association summaries revealed $35 billion
healthcare information technology (“HIT”) spending - $19 billion in incentives to hospitals & healthcare providers for HIT that supports “meaningful use” of “certified-electronic health records”.
Deeper ARRA and industry research indicate client’s products are outside “certified-EHR” and that winners/losers will be determined by future regulations on HIT interoperability and certification
But, agency information and Grants.gov reveal impact of stimulus-funded Regional HIT Extension Centers and state Healthcare Information Exchanges
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Healthcare Example
So…with client outside ARRA coverage, how does it profit from stimulus?
Indirectly, by becoming a supplementary system provider of choice to certified-EHR providers and healthcare providers, a result advanced by helping the Extension Centers and Healthcare Information Exchanges
Directly, by discovering a future agency projectAnd, client has recognized tsunami starting this year in
healthcare delivery. It is finding opportunity in threat.
HOW WILL YOU PROFIT FROM THE STIMULUS? WHAT’S YOUR STRATEGY?