During a recent discussion at the Congressional Small Business IT in the Rayburn House Office Building in Washington, D.C. DICOM Grid’s very own CEO, Morris Panner, along with a panel of four entrepreneurs, provided first-hand accounts of their business experiences and explored topics regarding how the Startup 3.0 Act would improve small businesses.
“Time,” says, Morris Panner, responding to the question: what breeds innovation? “What makes a successful innovation culture is time. The structural provisions in the Startup 3.0 Act give entrepreneurs time.” Through payroll tax incentives, Startup 3.0 allows small businesses to keep more cash on hand as they invest in their companies and look to make that next breakthrough product or service. “Cash determines how long you can live,” Panner said.
[Note: The Startup 3.0 legislation encourages capital investment in start-ups by providing a 100 percent capital gain exclusion for certain startup investments. It also incentivizes these businesses to perform research and experimentation by allowing an R&E credit to be offset again by payroll taxes. In addition to freeing up capital for these businesses, it also removes some of the barriers that currently limit access to the most talented workforce.]
The meeting of these minds rendered insightful discussions. The different backgrounds of each of the entrepreneurs allowed the audience to glimpse into assorted, yet agreeable perspectives.
The other panelists were all in support of what the Act could do for small businesses across America. To view Morris’s discussion points view the video below. For more information about this topic, check out CompTIA recent blog post.