Publisher: La. needs to support small businesses in big ways

Technological advances have drastically changed the business and competitive landscape in many ways in recent decades, and as Business Report Publisher Rolfe McCollister notes in his latest column: “One thing we’ve learned is the big, established firms and institutions are the least nimble and most arrogant—and last to adapt.” Consider the fact that only 71 companies remain today from the original Fortune 500 list of 1955, according to futurist Brian Solis, principal in the research firm Altimeter Group. In this rapidly changing environment, entrepreneurs and small businesses are increasingly critical to our economy and our future, McCollister says. “We must support, foster and celebrate this spirit and these risk-takers in our community and state,” he says. “And we must consider every way to gain an advantage.” One area we must consider changing to help these new and small companies grow is taxes, McCollister says. The Small Business & Entrepreneurship Council says Gov. Bobby Jindal’s proposal to eliminate the state’s personal and corporate income taxes, while remaining revenue neutral through sales tax, “would make Louisiana’s policy environment one of the most competitive among the states for entrepreneurship, small business and investment.” The council also says Jindal’s tax proposals would lead to Louisiana leaping to near the top of several indexes measuring the business tax climate of each state. “Sounds like a worthwhile goal—to be ranked at the top of these ‘good lists’—and gain a competitive advantage for future jobs,” McCollister says. Read the full column here, and send your comments to editors@businessreport.com.