Missouri Governor, Jay Nixon, has created opportunities for small business owners to find incentives for creating new jobs. The 2012 Missouri Small Business Jobs Bill has been signed into law. It is going to bring in tax deduction to companies amounting to $10,000 for new jobs and $20,000 for jobs that have a health insurance plan.
In the effort to grow number of new jobs, State of Missouri is helping out small businesses by introducing tax deduction as a tool to help businesses hire new workers and grow in number. Deduction is available for businesses having 50 or fewer employees. It is not just a matter of employing 50 workers, but their wages should also match state’s average wage.
Missouri certainly stands tall in new business creation and jobs addition. The tax deduction program is kind of an incentive for small businesses. It is going to act as a driving force to allow mom and pop organizations to flourish besides helping the big organizations to expand. The program shall help small businesses of Missouri to grow and the economy to move in the right direction.
There is also the ‘State’s Small Business Loan Program’ launched in 2009. It has helped 58 businesses in Missouri to find $1.57 million in loans. The program offers $50,000 in loans at 3 percent interest rate and the period extends up-to 10 years. It is open to businesses having 15 or fewer employees.
Loans are made available to businesses to help them buy equipments, meet business expenses and obviously hire new workers.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com