As a small business owner (R.Seelaus & Co., Inc. employs 55 people) I am discouraged by the senseless chatter of the politicians and TV commentators about small business.
First: Nobody starts out to create a “small business”; we all want to create the next Microsoft
Second: We are not motivated by taxes, we are motivated by revenue and profits. If we have to pay taxes it means we are successful. We would rather pay fewer taxes, of course.
Third: We live in the reality based community. We are driven by opportunities. We don’t hire people because we have “confidence” that Congress will address the deficit; we hire people because we see the chance to expand our profits.
Fourth: We are dependent on infrastructure. We need an environment that allows us to conduct our business efficiently. R. Seelaus & Co., Inc. is located in Summit, NJ. The town is accessible by two interstate highways, two NJ toll roads and a rail line. This is important for our employees and clients. If politicians want to help they should engage in a meaningful discussion of the infrastructure needs of the country both cyber and physical.
- Pressure on the euro will come from the wealthy nations thinking of leaving the currency
- The Federal Reserve has done everything it can to stimulate the economy. QE3 will not make any difference to the economy. The Fed wishes the public to think it is still capable of helping the economy but the reality is we are dependent on Fiscal policy at the state and national level.
- Leadership in regulatory matters concerning Wall Street has moved to NY State and NYC while the SEC and FINRA continue to be ineffective.