How can your business benefit from the ARRA? You can read about the broad highlights in some of the major business publications, but here are some of the deeper opportunities that we see:
- Tax Relief: ARRA provides nearly $300B of tax relief - which can be used by small businesses for marketing as well as tax reduction purposes. What business investments will help you caputure a portion of that $300 billion?
- Retiree Market: If your prospect market is retirees, get the word out that retirees will receive $250 each under the ARRA – money to be spent with you, the small business owner!
- College tech market: Parents can now use their 529 college savings account to purchase computer and computer related products – that is a new wallet for purchases.
- Leasing: The ARRA continues the 2008 stimulus act equipment purchase benefits: you can lower your cost of acquiring equipment through increased expense limits on purchases of $250,000 with 50% bonus depreciation above that level for qualifying purchases made in 2009.
- Weatherization: $5B is allocated to weatherization assistance programs to be allocated by states. Business owners in industries such as HVAC, plumbing, installation and construction should market around weatherization programs to drive awareness and sales.
- Technology: Technology spending will be focused on education, health services and energy efficiency – focus marketing on these areas; if you are investing in technology to achieve efficiencies, look for tax benefits to boost the bottom line.
- Broadband: $5.5B will be distributed to States to be invested in a variety of broadband installation, improvement and maintenance programs. Broadband installation is a construction activity, not just a technology theme.
- Commodities: The ‘Buy America’ provision requries that iron, steel and manufactured works be American (subject to cost); this will create increased demand benefiting U.S. producers, delivery mechanisms and nearby businesses.
- Transportation Infrastructure: this is the juggarnaut that will most quickly translate into ‘shoveling’ projects – $27.5B for highway and $8B for rail to be distributed, like broadband, by the States into various projects – half of this money in projects starting this Summer.
Check out these other ARRA resources to help your business out:
- Federal government contracting opportunities
- State specific recovery opportunities
- Section 179 opportunities
What other opportunities do you see with the ARRA for your business?
Photo Credit Nazir Amin
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