Thursday, February 7, 2019

Protecting Small Business and Local Wealth Through Legislation

Small businesses were always part of the American landscape from the beginning. While many small businesses still thrive there are many more that are going out of business because they can't compete against the large corporations. The businesses simply must have a higher margin simply because they don't have the volume of sales. Protecting them helps create a more vibrant economy that keeps money local.

You can have 5 good family businesses or you can support 1 larger business and a bunch of minimal wage workers. Ok...maybe things aren't this black and white. There are many shades of grey when evaluating the benefits and detractors of consolidating businesses.

Many times value of actions are evaluated by how much they contribute to the economy. The biggest question is not how much money is made but who actually receives this money and where does it go after? We will find that money is made, moves to fewer hands, and then out of the area.

Local businesses keep money local. They do that through rooting the business with their families and workers who spend money in towns. They also ask for business related services that are also very local. At the end of the day the create positive impact on businesses.

How do we support small businesses? Mostly through legislation. Legislation can be very important for helping protect the environment or workers. That is great! Unfortunately, legislation is also adjusted to support larger corporations through government action. Small businesses might be legislated out of the market giving larger businesses government sanctioned advantages based in part on political donations and self-interest.  We can support small business legislation that ensures well balanced policies that not only keep money local but also improves the economy of the nation.

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