Marsh said the state of Alabama currently has approximately 11 percent unemployment.
“There are 25 counties that have 20 percent unemployment,” he said. “Many of you are wondering what is being done to help. Legislatively, we are trying to create a climate to encourage business.”
Marsh said some legislation, which has not yet been passed, would offer tax benefits for business owners who employ someone currently on unemployment. Another item would offer health insurance tax deductions for business owners who offer their employees health insurance, and also for the employees for enrolling in health insurance.
“We are working on helping small businesses on the state level,” he said.
Marsh said he does not believe the federal stimulus package has helped small businesses.
“There has been talk on the federal level on creating legislation to help small businesses, but I think we are more focused on the state level on how to help small businesses.”
Marsh said graduating seniors face basically three choices when they enter the workforce: working for a large or small company, working for the government, or working for themselves.
“I started my first business at 19 years old in blue jeans and a T-shirt,” Marsh said.
Marsh said there is nothing wrong with choosing to work for a large business or the government, but becoming an entrepreneur is a viable option.
“Small businesses will pull this country out of the recession,” he said. “Small businesses are the key.”
Marsh said 80 percent of jobs are in the small business field.
“Fifty percent of small businesses that start up fail,” he said. “However, 90 percent of individuals who get educated, do research, get training and prepare succeed with their small business.”
Marsh said entrepreneurship is all about ideas.
“My definition of an entrepreneur is someone who acts on ideas or business ventures and has a higher percentage of success than failure,” he said. “The dictionary defines it as a person who organizes, operates and assumes the risk for a business venture, but does not talk about success or failure.”
Marsh said becoming an entrepreneur requires research.
“Start small,” he said. “The key is how much are you willing to risk.”
Marsh said the beauty of growing is that the bigger something becomes, there is a bigger risk involved but less competition.
“My biggest worry owning a stripe company for dealerships (when he was 19) was that someone else could take $1,000 and become my competition,” he said. “Not everyone can take $100,000 and become competition.”
Marsh said risk, pressure and failure are three factors individuals who own their own business must look at.
“A lot of people don’t want to deal with that,” he said.
Marsh said there are two choices in the small business field: going to work for someone else in a small business or going it alone.
“My advice is getting in with someone already in an existing business,” he said. “You can sometimes get training (if the owner is retiring soon, or relocating) and you are not reinventing the wheel. You can take a proven entity and add your own ideas to improve it and make it better.”
Marsh said a proper education is very important.
“You also want to find good people in three fields: a good banker, a good accountant, and a good lawyer,” he said. “You can listen to those people to help you avoid mistakes.”
Marsh said he has always been a small business owner, and always will be.
“Always strive to do a better job, because there is always someone there trying to take your spot,” he said. “There is great satisfaction from controlling your own destiny.”
Pell City High principal Helene Bettinger said Marsh’s speech is one facet of equipping the seniors as they prepare to graduate.
“We are working with the students to help them with college enrollment and financial aid and other aspects to help prepare them for their choices after they graduate,” she said.
Post a Comment
