Ohio has launched a $100 million tax program that benefits both entrepreneurs and investors. InvestOhio is a program seeking to spur investments in Ohio's 900,000 small businesses. The program offers a 10% income tax credit to investors who infuse new equity (cash) into companies having less than $50 million in assets and/or less than $10 million in annual sales.
To take advantage of the income tax credit, investors are required to invest cash into a small business and then must retain ownership for a two- year holding period before the tax credit can be claimed. Small businesses benefit by the infusion of cash and are required to reinvest the cash within six months of its receipt. Small business owners must also retain the purchased property for the entire two-year holding period.
InvestOhio has a two-part application process. Part One is the registration piece, which kicked off November 14, 2011. Part Two is the actual application process and begins the first week in December. For more information on this $100 million program to see if it's right for you, CLICK HERE, or call (800) 848-1300.
Tuesday, November 22, 2011
Monday, November 21, 2011
Passion to Profit
On Saturday, November 19, 2011, INCREASE CDC in conjunction with Discover U Consulting hosted Passion to Profit. This half-day seminar presented information to working adults on how to best start a business while keeping their day jobs. Motivational speaker Carla Daniels, Owner of HMG Consulting, spoke to the attendees about clearly identifying their passions. Nikki Swisher, Owner of Magnetic Institute, spoke on easy ways to start a business in 30 days. Both ladies encouraged the audience to push through any obstacles that were preventing them from turning their passion into profit.
The seminar also included a panel discussion with four local intrepreneurs who shared their successes and challenges. The panlists whose companies represented the fashion, financial, landscaping, and marketing industries brought a personal touch to the seminar's topic and candidly responded to the moderator's questions. The seminar was a success with over 80% of the attendees saying they were extremely satisfied with the overall experience.
The seminar also included a panel discussion with four local intrepreneurs who shared their successes and challenges. The panlists whose companies represented the fashion, financial, landscaping, and marketing industries brought a personal touch to the seminar's topic and candidly responded to the moderator's questions. The seminar was a success with over 80% of the attendees saying they were extremely satisfied with the overall experience.
