Economic Program | Idea Brief
Small Business Start-up Accounts
This Idea Brief proposes the creation of tax-preferred Small Business Start-up Accounts to help new entrepreneurs get their start.
Most entrepreneurs make significant personal investments in their new businesses and also rely on outside debt to cover some of the cost. However, with economic conditions making it tougher to save or access credit, would-be entrepreneurs are facing higher hurdles to entering the market. Allowing future business owners to set aside start-up funding in a tax-preferred account would let them more effectively save and reduce their need to go into debt or deplete their retirement funds.