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Business News Blog Archives

Small Business

Business

Posting 4 - Small Business: September 29, 2007

Business News Blog posts insightful comments on the latest international news that render us taken-aback in the domain of the business facet of life.

Business News Blog: Small-Business News

Small business owners launch anti-subsidy campaign:

September 28, 2007 by

Small Business

Local business owners in Austin are gathering signatures to force an election next year in hopes of preventing the city from offering any more tax breaks like those that brought The Domain to town. Members of the group "Stop Domain Subsidies" say the tax rebates approved by the City Council in 2004 give the upscale shopping center and residential complex an unfair advantage over its competitors, and they want to change the city charter to prevent any other special tax breaks for retail outlets.

"The basic problem was subsidizing these high-end retail establishments when the local businesses that create most of the jobs in this city are getting nothing," said Jim Holland, owner of Eco Wise and a member of "Stop Domain Subsidies". He plans to gather signatures on a petition to force an election on their proposed charter amendment, and hopes his customers will be among the first to sign. "We're going to have a table in our store where we're going to inform voters about this petition drive and urge them to sign to protect local business owners," he said.

The group will need to get about 20,000 signatures to force a charter amendment election. The proposal the group is trying to get on the ballot would also prevent the city from making any tax rebates to The Domain under the existing agreement.

Business News Blog Comment:

The big fish always gulps the small down. The big business had always been a threat for the small business ventures, but as of late in the global economy, it has assumed really dangerous proportions!

There seems to be no way out of it but for changing the structure of the entire business on earth.

The interesting question is: how!

What effectively can be done so that business world comes out of the clutches of the plutocracy it is in and assumes more democratic character?

We really need pondering deep on this question.


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