Small businesses are the backbone of our economy. Nearly two out of every three jobs are created by small businesses.
If our small businesses are thriving, we will create jobs. If our small businesses are growing, we will keep our economy moving in the right direction.
This week is Small Business Week, which is the perfect opportunity to reflect on what has been done to support the small business community and to refocus our efforts on helping American small businesses grow.
Over the past few years, Democrats in Congress have worked hard to help small businesses.
The new health care law almost immediately gave American small businesses tax credits to help afford health insurance for their employees. Rapid and sharp increases in health care costs aren’t just squeezing family budgets, but also the budgets of small businesses. By helping small businesses cut health insurance costs, we help them re-invest in their businesses.
Over the past two years, the Small Business Administration has loaned $53 billion to help more than 100,000 small businesses across the country expand.
I’ve been proud to fight to help ensure that qualified small businesses owned and operated by people of color, women, and veterans get a fair shot at Federal contracts. Whether it’s in transportation, defense or other Federal contracting – we need to make sure that our small businesses can compete for contracts, just like bigger businesses. I will remain vigilant to see that qualified small businesses are included in the contracting process.
But despite these achievements, many small business owners will tell you there’s still more to do.
While consumer confidence and spending is ticking up, persistent unemployment leaves many businesses without customers. As our private sector keeps adding jobs, families will have more money to spend. And that’ll help our small businesses.
And it is important to remember that small businesses – and our economy in general – don’t operate in a vacuum. We must keep investments in education and training and workforce development. Wisconsin has a very skilled and talented workforce, and we must continue building up and investing in our next generation so that the next great ideas come from and stay in Wisconsin.
News reports claim our economy is growing and on a track to recovery. Yet, too many families haven’t been able to share in it. Small businesses are a critical piece of spreading that prosperity. By helping them thrive, our communities will thrive.
U.S. Rep. Gwen Moore is a Milwaukee Democrat.
