April 19, 2012
I believe the job acts is great. As a serial entrepreneur (7 companies) I have had successes and failures. One of the biggest mistakes I see is too much too fast. I believe if the government can control the input of capital and monitor hard stop losses with the companies it would mitigate a lot of fraud. Here's an example:
NewCo Launches with a business plan outlining expenses and revenue. They raise $1 million.
Each Month, they must be accountable. They turn in a balance sheet, pL, etc to the investors or gov. If they are not following their plan and just blowing through it, investors have the right to cease operations and get money back.
Small businesses need transparency, accountability and guidance. Do this and I believe we could get America's small biz back in shape