The
country, the state, the community can only prosper by paying its bills; paying
for security, health, education, sport, culture, social services, maintenance
and infrastructure. Business and employment are the chief drivers to meet such
bills. It is the generated and collected taxation revenue, from such drivers,
which must be expanded to meet the spending burden. Economic growth and diversity
must, therefore, be forecast and maintained to match (inflation) increasing
expenditure. Economic data managed and available, to all taxpayers, is the
solution.
Large operations or business groups, as employers,
already contribute and pay towards national development but are highly subjected
to worldwide, regional and local market influences. Entrepreneurs and small
business, being much more flexible, can easily maintain its earnings despite
economic vulnerabilities. Hence, it is so much better for a society to depend
upon small operations' expansion, than to invite more large operations, to grow
the national tax revenue.
Badly needed Tax Revenue, to meet the nation’s
obligations and balance the national budget, is better collected from a wider
pool of individual taxpayers. Collected from increasing registered small
business and entrepreneurs, as well as from the large-scale business groups.
The individual employee and taxpayer pays contributions, through a Pay As You
Earn (PAYE) system, withheld by employers. While, sale, consumption or value
added taxes, along with environmental, business levy and corporation taxes are collected
by and charged to big business, which has the internal resources to administer such
reporting. The small or startup operations, which is harder to administer,
should simply be charged an annual license fee upon registration, as their
contribution to the national economy.
The economic growth, therefore, will depend on
widening groups of consumers, foreign and domestic, which supports small
business and entrepreneurs’ expansion. Balancing the national budget and the
diversification of the economy must be led by this employment expansion.
Employment which grows from widening consumer groups by targeting new markets
with innovative products, using existing national expenditure to promote such
products into such new markets, and establishing, valuing and protecting the
national brand. It is this risk-taking, needing only a few successes, which
will generate and measure economic growth.
So-called entrepreneurs (risk-takers) and small
business desperately needing access to large, relevant, and generally,
unaffordable to any single small business, back office Data, to make good
decisions and to compete. Such publicly available data should be, and very likely
is, gathered and analyzed by relevant agencies at taxpayer’s expense, and needs
to be freely disseminated, as information, to all who need it. External Data analyzed
into Intelligence and streamed to an accessible Business Dashboard, where it is
incorporated with internal data; tracking point of sales, highs and lows in
targeted markets, on-route container tracking, currency exchange rates, etc.,
which would allow for quick decision-making and actions. Resulting in expanding
business investment, job creation and sustainable development.
Rationale
T.A.J. & Associates Company Limited uses this occasion to
comment on topics that have been covered, both academically and by the
mainstream media, to add its opinion and point out investment, not to invoke
any social action.
