ICSB proposes an Audacious Plan to Save Small Businesses – If we continue to think small in terms of solutions, we will be stuck in small and incremental changes

An Audacious Plan to Save Small Businesses

All small businesses below 50 employees become tax-exempt as not-for-profits for 10 years.

“The world isn’t getting better, but technology is,” words spoken not by leaders but by an astute 9-year-old. The truth of that is like a thunderclap. Business innovation makes constant advancements, but oftentimes it’s at the sacrifice of humane practices. The very things that improve the quality of life for some come at a high “people” cost for very many others.

Now is the time for large-scale measures to protect vulnerable businesses and workers. If we continue to think small in terms of solutions, we will be stuck in small and incremental changes. We need an audacious plan implemented on a global scale.

The 5 Guiding Principles:

1. All small businesses below 50 employees become tax-exempt as not-for-profits for 10 years. Small businesses are the lifeblood of their communities. Giving them tax exemption helps balance out disadvantages, keeps and creates jobs, and gives the local economy a much-needed shot in the arm.

1. All countries establish standards for online education. In this age of digital technology, pandemics or other disasters shouldn’t grind education to a halt. We must ensure that public education is accessible online for all children.

1. All public teachers and nurses get tax-free benefits and free graduate education. Teachers and nurses are modern-day heroes. They should be given the benefits of someone who serves and sacrifices for their community, including free tuition, tax exemption, and healthcare benefits.

1. Free internet funded by local governments. The internet should be regarded as a necessity rather than a luxury. When citizens pay taxes for public services, the internet should be one of them.

1. A Global Small Business Congress to be held on June 27 at the United Nations. For any of these guidelines to be enacted, there needs to be a meeting of minds to discuss these plans on the United Nations International Day for Micro-Small and Medium-sized Enterprises (MSMEs Day).