President Donald Trump is announcing a new business blueprint that would allow businesses to plan and launch a new product or service with a simplified set of rules and more flexibility to compete with other businesses.
The plan, which is being released Monday, is the latest in a string of initiatives that have been put in place since Trump took office in January.
The Trump administration has tried to boost competition and cut red tape to help small and medium-sized businesses, and the president has called for a $1 trillion stimulus to stimulate the economy.
The White House says the new business plans would help small business by:Creating more flexible rules that allow for more flexibility, including:Opening a new tax code to allow companies to create and sell products and services with lower rates or with lower prices, which could include lowering corporate taxes.
A simplified set to allow for smaller businesses to grow and expand their businesses by selling products at a faster pace, with a more efficient delivery system, allowing for more efficiency, faster returns and more products on the market.
Opening the government to businesses that don’t have an existing tax code or other federal regulatory framework that would prevent them from expanding.
Making it easier for small businesses to get credit for projects, by providing the same credit to small businesses that are eligible to receive credit through other programs, including the Small Business Administration.
A tax credit for business owners that use digital technologies, like social media, and provide a tax credit to businesses and their employees that have hired digital employees to improve their business.
Making more business tax credits available for small business owners who do not have the same business or technology expenses as large companies.
The administration is also introducing a series of measures that would encourage small businesses by:Making it simpler for small companies to get loans to start up, to reduce their capital needs and to attract new investors.
The goal is to allow small businesses the ability to borrow at low interest rates for up to five years, while allowing for small and large companies to borrow up to 15 years at no interest, according to a White House official.
The proposal would also allow small business to file for tax credits, which would allow them to take advantage of a wide variety of tax incentives.
The new business framework would also help small companies by:Enabling them to create new products and products with less risk or difficulty, and opening the government for businesses that need to invest in a range of services and investments, including education, technology and other investments.
Making small businesses eligible for loan guarantees, by offering the same tax credits to small and small businesses for a variety of investments, which can include loans, tax credits and other assistance.
Enabling small businesses and small business-led organizations to offer loan guarantees for small loans and loans with high interest rates, such as mortgage refinancing.