- Source: https://www.govtrack.us/congress/bills/116/hr206
- I believe this bill could help small business and help promote more small businesses from starting up or to innovate after seeing.
- After reading the bill and seeing the laws they were amending laws with respect to the SBIR and STTR program allowed me to see this opportunity.
- I believe small businesses and entrepreneurs starting a business will benefit as they are encouraged to use the STTR and SBIR and more people will be able to apply for these programs.
- I think it will be easy to exploit participation for previous participants who couldn't get into the programs before.
- I saw this belief because i know starting a business can be confusing and complicated and some people may not know where to start or miss some things since I almost did that before my dad started to help me start a business. As a result, I saw this opportunity since I know it could help people especially money wise with the SBIR and STTR programs.
Regulatory Change: 70% tax on the wealthy for "Green New Deal"
- Source: https://www.fool.com/taxes/2019/01/24/alexandria-ocasio-cortezs-70-tax-plan-what-all-ame.aspx
- I found this bill by seeing the 70% tax and how it would be to support the green new deal.
- I believe this opportunity exists due to the numbers and examples of how it could work and how much money it could provide to the government.
- The customers would be green businesses and other businesses who help battle climate change as the money would be going towards them.
- I believe it would be an easy opportunity to exploit since the Green New Deal would provide money to companies whose focus are on preventing climate change.
- I saw this opportunity because I realized if a business made a startup to help prevent climate change by doing anything then they could prob get money to help get it going from the green new deal.
Economic Trend: New Alternatives for Timber
- Source: https://www.bclocalnews.com/news/downward-trend-and-uncertain-economic-forecast-for-forestry-says-ndit-report/
- I found the opportunity since there would be a reduced supply for timber but an increase in demand for wood products in the housing market and in China.
- I believe this opportunity exists since the demand would be high for wood products and as a result, a new alternative would be needed such as fake wood or a material that is like wood.
- The most likely customers would be the people who buy wood products as they can something that is just like wood so their expectation wouldn't change but it would look like the real thing.
- It would be difficult to exploit because you would have to make a new alternative to wood and if there isn't one already then you would have to spend time on making one.
- I saw this opportunity because I remember hearing about fake wood one day and I realized if there is a decrease in timber supply then why not use fake wood to satisfy the increase in demand.
Economic Trend: Agriculture and Winery Growth in San Joaquin County
- Source: https://www.recordnet.com/news/20190119/trends-show-positive-economic-outlook-for-sj-county
- I found the opportunity since the county is very agricultural in terms of economy and there is strong demand for their products.
- I believe that this existed since the opportunities for winery growth and agriculture processing is promising since the demand is still strong.
- The prototypical customer would be people who buy wines or any agricultural products.
- The opportunity would be difficult to exploit since you would have to raise money to build up the infrastructure for these businesses.
- I saw this opportunity since my dad always tells me to get into the industries that would be booming in the future such as aerospace. As a result, if the agriculture economy is growing it would make sense to take advantage of this opportunity.
The Winery Economic trend seems very ripe for exploitation, with the growth specified in the article, it seems one method would actually be to invest in up and coming wineries in the San Jaoquin County. On the flip side though, the Timber opportunity would require an immense amount of resources to even be profitable, and beyond that it seems without regulatory changes wood industries would still dominate in that same sector.
ReplyDeleteFor the alternatives for timber trend it does indeed sound difficult to exploit especially since it is not relatively easy to come up with an alternative for a widely use material. Also this new material would have to work just as or equally as well as timber and it just can’t be replaced by something else like metal or plastic because there are certain jobs that wood works best.
ReplyDeleteI think you raise very important insights and opportunities for entrepreneurs. I think it's smart that you're looking into developing industries such as agriculture and that doing so is what many successful entrepreneurs do. I'm also interested by the alternatives to timber, and wonder how an entrepreneur can reasonably exploit this opportunity.
ReplyDeleteI think that the opportunity you found about substitutes for wood was very interesting. Many trees are cut down for the production of paper, wood products, etc. It would be incredibly beneficial to cut back on timber which would allow more trees to grow back and be used in other products while using alternatives for wood flooring / furniture. I think that this is a great example of using a substitute to find a solution to an ongoing problem. Great post!
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