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State of the Union: A Recap for Small Businesses

Published on Jan 26, 2011

Summary

Read 'State of the Union: A Recap for Small Businesses' at 'Time to Start Up,' the small business blog by BizFilings.
In Tuesday night's State of the Union address, President Barack Obama addressed some of the most pressing concerns facing the nation: the growing federal deficit, the fragile economy, foreign relations, immigration, energy and, of course, federal policy toward small businesses and entrepreneurs. Excess government regulation has been a contested issue among many groups, provoking a number of initiatives by the president to reduce the harmful effects of compliance on small firms and entrepreneurs forming a company. "My favorite example: The Interior Department is in charge of salmon while they're in fresh water," the president pointed out, "but the Commerce Department handles them when they're in saltwater. I hear it gets even more complicated once they're smoked." While the reference served as a point of laughter for audiences, it did make a good point regarding red tape and over-regulation - a problem the president vowed to fix as he pointed out a recent executive order that calls for a government-wide review of regulations that "put an unnecessary burden on businesses." "I will not hesitate to create or enforce common-sense safeguards to protect the American people," the president added. The response to the president's address was mostly positive, as the speech managed to curry support from a traditionally wary business community. As the president returns to the Oval Office to make good on plans outlined in the State of the Union, small businesses and entrepreneurs look forward to a new era of free industry.