She has 56 employees and says she cannot afford health care coverage for them. When she applied for a small business loan, the fees were overwhelming.
Smith said it is a struggle to be a small business owner between the lack of health care coverage and all the taxes associated with it.
Gene Sperling, former White House economic advisor, visited Greencastle Tuesday to discuss presidential and vice presidential candidates Barack Obama and Joe Biden's Small Business Emergency Plan. Under this plan, small business owners such as Smith will receive a 50-percent credit for providing healthcare coverage to employees and fees will be eliminated on small business loans. A rebate will be given on payroll taxes and a $3,000 rebate on new payroll taxes.
The purpose of these incentives is to help small businesses create jobs.
"When a small business owner can't keep growth and send their kids to college, it is not good," said Sperling.
Obama's plan is focused on helping the small businesses -- which are suffering because of the current credit crunch -- succeed.
The Obama administration plans to work on increasing access to loans, make interest rates for SBA loans more competitive and simplify the loan approval process. Capital gains taxes on investments made in small and start-up businesses will be eliminated.
Education is also included in Obama's focus. Parents sending their children to college can look for a $4,000 tax credit over four years instead of the $2,000 for two years (HOPE credit).
The plan stated: "With small businesses responsible for more than two-thirds of new job creation, this plan is vital to stemming job losses and turning our economy around."
For more information on Obama's Small Business Emergency Plan, visit www.idems.org