Hello kind reader! Thanks for stopping by! This week has been an extremely hectic one I and still have a long, but exciting, weekend ahead! Due to there being no businessey (I think I just made that word up) blog this week, I want to try something different... I am going to re-cap my business week and share with you some of what I learned. As I am told time and time again, never ever stop learning and never ever stop sharing. So here is what I have:
- Businesses, no matter the size, always look for ways to lower their costs without laying people off. Taxes, depending on the industry and location, constitute many of those costs. Every business has to pay at least three taxes: 1. Payroll or Income 2. Sales or Corporate 3. Property. Fortunately, Georgia already has one of the lowest corporate income tax rates in the nation at 6%. With all of the wonderful things going on in the Peach State, this is also a great tool for attracting businesses to locate to Georgia and also eases the burden of costs for our existing businesses.
- Real Estate Brokers and Accounting Firms play a huge role in economic development. The real estate brokers help businesses find building space to move their businesses and assist with the leasing process. Accounting firms are there for the financials and both real estate and accountants also provide consultants to represent businesses inquiring of empty office or plant space as well as making sure the money is safely and legally handled.
- I was privileged to have met with US Senator Saxby Chambliss (R-GA) earlier this week. He is a very friendly and approachable gentleman. And also the tallest elected official I've ever met.When I told him I was from Dalton, he jokingly replied, "You must know how to make carpet!" We both enjoyed a laugh. With the ice being broken, he then encouraged me to continue learning and told me I am in a great place in my young professional career.
- Speaking of being from Dalton, Ivan Allen Sr., an instrumental figure in Atlanta's development into the international city it is today, is also a Dalton native. This totally surprised me! Just to give you a glimpse of his importance to the city of Atlanta, there is a monument of him in Centennial Olympic Park. For more information about him, visit this informative site about his life and accomplishments: http://www.georgiaencyclopedia.org/nge/Article.jsp?id=h-2785
- Lastly, I was reading an interesting excerpt on supply-side economics written by a British economist who told the story of Arthur Laffer supposedly drafting his now famous bell-shaped Laffer Curve on a napkin in a restaurant. It's amazing that the core ideas reflected on that mysterious napkin are still debated amongst politicians, businesspeople, and still, presidential elections. Laffer's ideas changed the way we view taxation forever. Interestingly enough, I had a "Laffer experience" of my own last night when I drew two charts depicting the payscales of athletes and non-athletes in my journal. I will research it and get back to you with my findings...