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Obama’s Startup Funds Assistance Plan

There is a largely overlooked section of Obama’s American Job Act that bodes extremely well for young entrepreneurs. According to one book I recently read, and I loosely paraphrase here, 20-somethings are the perfect entrepreneur candidates (assuming a number of other characteristics besides age) because they have the least to lose and the most to gain. One hindrance to this is if you quit your job before you’ve built sizable savings to enable you to focus solely on starting and building a business, you have no safety net. Awwwwww! That’s the sound of young people falling to the ground and trying to figure out how to ask the parents can they move back into the house they so willingly left not long ago so they can avoid homelessness.

Obama’s plan includes a provision that reforms federal unemployment insurance. No, I’m not talking about extending the length of unemployment to help the jobless and seeking. I’m talking about extending unemployment to …entrepreneurs! The American Job Act would create a Self Employment Assistance (SEA) aprogram in all 50 states that provides unemployment benefits to self employed individuals, aka entrepreneurs, for up to 26 weeks.

Many entrepreneurs could use that money as a source of startup funds. And those funds could mean the difference between a young aspiring entrepreneur taking the leap now or waiting. The problem with waiting is sometimes that magic date never occurs. What was it Langston Hughes said about a dream deferred?

“Does it dry up
like a raisin in the sun?
Or fester like a sore–
And then run?”

Excerpted from Langston Hughes’ poem, A Dream Deferred

 

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About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.

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The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

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