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ECON - Book Report/Review Example

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Name Instructor Course Date Schoenberger, Chana R. "Making Sense of State Incentives for Small Firms." The Wall Street Journal 27 Novermber 2013. In his article, Schoenberger attempts to determine the importance of state incentives particularly to small businesses in the country in an effort to stimulate economic growth…
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Download file to see previous pages... To begin with, Schoenberger acknowledges the role and economic importance of business incentives that the government offers in a bid to attract investments. In particular, he contends that most local governments tend to offer business incentives as sweeteners for attracting startups. In his view, some of the common ways of doing giving such incentives is through tax credits, payments for site construction and offering of bonuses for creation of jobs. The incentives may favor enterprises that wish to relocate from one region to another or looking to expand their business operations. According to Tuffile, most states have various business incentive programs that tend to be beneficial for businesses. These programs range from offering of training for employees by the state, provision of tax incentives, as well as the issuance of low-interest loans that can be of significant benefit for startups or for enterprises that are looking to diversify but are economically constrained. Every state in the country has at least one of such incentives. Tuffile considers accelerators and incubators as some of the important forms of incentives that the government has been offering for sometimes, which has gradually been of importance to small enterprises. As an advice for investors, Tuffile suggests that rather than merely establishing a business at a certain location because of personal reasons, investors should always seek to locate to areas that offer the most business sense. For instance, he argues that taking the U.S as an apt example; recently, there has been a gradual surge in the investment in the Silicon Valley area in California. This has majorly been as a result of the local government willingness to chip in and take the risks to fund businesses. As for the local governments, Tuffile offers that each state should seek to explore a certain opportunity and offer incentives accordingly in order to avoid inter-state competition. For example, in the U.S so far, Boston serves a biotech hub while Silicon Valley serves as a Social media or IT hub. Nevertheless, no matter how attractive an incentive may be, Tussle advices small enterprises to carry out an extensive research in the location and establish its suitability to the business prior to accepting the incentives. From the article, one can there deduce that one of the steps for attracting investors by either the federal or local governments is by offering incentives. Governments should be willing to take the risks and offer the right incentives for economically constrained startups. In addition, with the fact that nearly every state wants to attract investors, stiff competition among the states is bound to occur. One way of eliminating such competition while remaining relevant in matter pertaining to investment is by specialization in a given area of business, either in IT or biotechnology. The article is relevant for both students wiling to improve their knowledge on investment, as well as for young entrepreneurs willing to gain investment knowledge as they look forward to gain entry into business. Curren, Don. "Putting the Brakes on Household Borrowing Could Stall Canada Growth." The Wall Street Journal 11 November 2013. In her article, Curren provides an overview of some of the negative effects that may be attributed to a stall on the economic growth of a country in the event of a reduction I household borrowing. She establishes ...Download file to see next pagesRead More
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