01/25/2008
Upcoming NFIB events
2008 Small-Business Summit
This year's 2008 NFIB National Small-Business Summit will be held June 8-11 at the Grand Hyatt Hotel in Washington, D.C. Since 2008 is an election year, NFIB is inviting the top two presidential candidates as guest speakers. Information about the Summit is available at www.NFIB.com/Summit.
Look for information on Area Action Council meetings in Rocky Mount, Fayetteville, Wilmington and Nags Head to be held in April. Watch our events calendar for details.
Winston-Salem Chamber/NFIB meeting a success
The Winston-Salem Chamber of Commerce and the National Federation of Independent Business held their first joint meeting last week. The meeting format was a legislative roundtable discussion on issues of importance to the business community. Six area legislators fielded questions for over an hour from the audience on a number of issues. Affordable and accessible health care seemed to be the topic about which most business owners were interested in hearing. Other issues included discussion of problems small businesses were having with the Department of Revenue, illegal immigration, the Tax and Fiscal Modernization Commission's recommendation regarding tax on services, a local issue on cable TV access and economic incentives. Approximately 100 people attended to listen and participate in the open dialogue on these extremely important issues they face on a daily basis. Gayle Anderson, president of the Chamber, was particularly interested in the health care issues and Beaufort Bailey, a Forsyth County Commissioner, focused interest on illegal immigration. Reps. Larry Womble, Larry Brown, Dale Folwell and Bill McGee along with Sen. Pete Brunstetter were in agreement on many of the issues and pledged to work on each of them when they return to Raleigh in May.
NFIB Leadership Council Chairman Bill Whiteheart added, "Having the opportunity to discuss issues important to small businesses across the state in an open dialogue with our elected state legislators provides them with a more personal insight into what NFIB members face on a daily basis."
"It is imperative that our members have an opportunity to express their position on all the issues facing their business and all of the small business community," Gregg Thompson, NFIB/North Carolina state director, said.
Help us identify young entrepreneurs
The 2008 NFIB Young Entrepreneur Scholarship Award program has received over 3,300 applications from all 50 states with a record 134 applications received in our state. The deadline for scholarship applications is Feb 11. Please share the information about these scholarships with your friends, family, and employees. Additional information about the eligibility and the application process is available at www.NFIB.com/YEA.
State Member Ballot deadline approaching
Thank you to the many members who voted your state ballot that was distributed by e-mail, fax and mail to members statewide. If you have not returned your ballot, please take a few minutes to vote via mail or e-mail. Your vote determines the position that we'll take on issues during the 2008 legislative session.
NFIB introduces 411
The NFIB Research Foundation has introduced www.411sbfacts.com. This Web site is the ultimate source for information on what drives American small business. This free, regularly updated database of facts and figures about American small business, their owners, and their managers is also the largest source of statistics available on what small business actually do. This Web site is a great place to look if you need to review statistics or to see how your small firm stacks up against the others.
Take advantage of Dell/NFIB award program
The fifth annual Dell/NFIB Small Business Excellence in Customer Experience award program, sponsored by Dell and NFIB, began Jan. 7. Small businesses using technology in innovative ways are invited to enter to win $25,000 in Dell products and services, a lifetime membership to NFIB and a full day with Dell executives, including Chairman and CEO Michael Dell, at the company's headquarters in Round Rock, Texas. In addition, nine finalists will receive Dell merchandise and a one-year membership to NFIB. The award program honors small businesses that instill the spirit of innovation and apply information technology to improve customer service. Entrants must be a small business with 100 or fewer employees. For a description of the criteria and to obtain an application, visit Dell's Web site. Applications will be accepted through Feb. 29.
Federal update
The ADA Restoration Act (H.R. 3195)
NFIB is closely watching this bill in the House Judiciary Committee. The 1990 Americans with Disabilities Act (ADA) provides important and necessary protections against disability discrimination in the workplace. Sponsored by Steny Hoyer (D-MD), H.R. 3195 would dramatically expand the original ADA by changing the definition of disability to include even the most minor impairments, such as poor eyesight correctible by glasses, the flu or a small scar. H.R. 3195 is inconsistent with the original intent expressed by Congress to protect individuals who are substantially limited by severe disabilities. The bill would trivialize the concept of "disability" and inappropriately divert employer resources from those who need them most. We will keep you updated as we learn more about this bill's progress…
Economic stimulus proposal
Congressional leaders announced an agreement on an economic stimulus package that includes provisions that double small-business expensing limits from $125,000 to $250,000. Increasing expensing for small businesses "would represent a huge victory for the National Federation of Independent Business, which sought the change," said a recent article in Congress Daily, an influential publication covering the in's and out's of Congressional action. We were the only group lobbying for this provision.
NFIB supported the following provisions in the debate:
- Increasing the dollar amount of small-business expensing and expanding its uses: NFIB supports increasing expensing levels to allow small-business owners to immediately write off necessary purchases and spur investment. This provision will help small-business owners make new investments in their business.
- Standard home office deduction: Of the 17.3 million small businesses, 9 million are home offices, which incur expenses that would be easily deductible if they were not located in the home. Additionally, many business owners do not take advantage of the current home office deduction because of the complexity of the paperwork.
NFIB supports allowing a $2,500 standard deduction for home-based businesses. Helping the smallest businesses claim the deduction would leave the small-business owner with more time and money to operate and grow the business. - Fifteen-year recovery for retail improvement, restaurant and leasehold property: A 15-year depreciation period better reflects the use of these properties, and including new construction would allow improvements made by employers who own their own buildings. All of these provisions would allow small-business owners to improve their company and would assist the construction industry as well.
- Fifty percent depreciation for the first year in service: Bonus depreciation is an incentive for businesses to invest in their businesses now, providing an immediate deduction for half the cost of the investment rather than deducting the cost over a number of years.
- Extend the net operating loss carryback: This provision would allow a taxpayer to smooth out loss years with gain years. As the economy slows and businesses see more losses, this extension will allow them to account for the losses in years while the economy is slowing during years when the economy was growing.
While small businesses created 66,000 jobs in December, recent NFIB-conducted surveys show small business owners' confidence in the economy has declined. This targeted stimulus would help boost that confidence ensuring that small businesses continue to grow and create jobs. Congress and the Administration are expected to move quickly on this stimulus, so stay tuned for continuing coverage.
Sincerely,
Gregg Thompson
NFIB State Director/North Carolina
gregg.thompson@NFIB.org
