Small Business Will Make America Great Again

Small business will Make America Great Again because they made it great in the first place!

When we talk about putting America back to work, remember - it’s small businesses that will do the job.

Small businesses employ nearly half of the American workforce, and small businesses are responsible for creating more than two thirds of all new jobs in America since the Great Recession.

Small businesses are the innovation leaders, too. Small businesses produced 16 times more patents per employee than large patenting firms. Don’t forget, Apple started in a garage.

All this means that if we want to make America great again, we must help small businesses, startups and entrepreneurs prosper.

Here are three good places to start:

• Cut burdensome regulations

Giant, established corporations have platoons of lawyers and accountants on payroll to file whatever reports, forms and red tape Washington bureaucrats dream up.

But it’s harder for the small workshop, family farm or mom-and-pop business to comply.  In fact, there’s a case to be made that the big guys actually welcome more regulation because it keeps smaller upstart competitors out of the game, meaning more market share for them.

There’s no question that the big lobbyists, not the small businesses, are at the table when bureaucrats write their regulations.  And as the saying goes, if you’re not at the table, you’re on the menu.

We need to review regulations that put small businesses at a disadvantage – and then fix them.

• Make it easier to get credit

Community banks have been major lenders to local small businesses, but these banks have been stifled by new regulations following the financial meltdown of 2008.  We have to encourage banks to get back into the business of lending to businesses.

• Tax reform

Killing the goose that lays the golden eggs is never a good way to increase the bullion supply. We must make sure the tax codes and rates do not stifle small business, the greatest source of jobs and innovation in America.