Then, attach supporting documents as an appendix at Job Function Email List the end of the plan. This section would include things like tax returns for the owners that are funding the business and any documentation that supports your Job Function Email List financial projections. The Small Business Jobs Act of 2010, signed into law by President Obama in late September, is designed to tackle America's continuing high unemployment rate by bolstering that sector of the American economy Job Function Email List that has traditionally been responsible for the creation of the most American jobs: the small business sector.
Small businesses, defined by the Small Job Function Email List Business Administration (SBA) as any commercial concern with fewer than 500 employees, employ slightly over half Job Function Email List of all private sector employees and over the Job Function Email List past 15 years have generated close to 65% of all new jobs. It's no secret that the recent economic downturn has hit Job Function Email List business where it hurts. Even in prosperous times, business formation is a risky endeavor: over half of all small businesses fail within their first year, in part because their owners have an incomplete Job Function Email List knowledge of the business law necessary to guide them through business formation.
In the year 2008, the first year of the Job Function Email List recession, almost as many of these businesses closed as were started, and many of those businesses had been in operation over ten years. The 2008 $825 billion economic stimulus package contained very few provisions aimed at helping small businesses. The Act sought to rectify that situation by extending loan enhancements Job Function Email List first put into place by the American Recovery and Reinvestment Act of 2009. Among other things, the Recovery Act allowed the SBA to raise the government-backed guarantee on its 7(a) loans to 90% and it also allowed the SBA to waive its $1,000 packaging fee on both its 7(a) loans and its 504 loans.