TAILIEUCHUNG - MOVING AMERICA’S SMALL BUSINESSES & ENTREPRENEURS FORWARD

The 74th ranked problem in the survey is “Undocumented Workers,” a problem first introduced in 2008. Seven percent find it a critical problem compared to 55 percent who do not. While the issue draws substantial media attention and passionate view on both sides, the number of small-business owners concerned by the business implications of undocumented workers is minimal. “Access to High-Speed Internet” ranks 73rd and is critical for 7 percent of small-business owners. The technology gap between rural and urban business owners has dissipated dramati- cally over the years as over half of owners find it not a problem. A recent. | MOVING AMERICA S SMALL BUSINESSES ENTREPRENEURS FORWARD Creating an Economy Built to Last National Economic Council May 2012 I ỊỊ IB lol THE WHITE HOUSE _ WASHINGTON Introduction From Main Street shops to high-tech startups America s small businesses and entrepreneurs are the engine of our economy and one of our country s greatest assets. Over the last two decades small and new businesses have been responsible for creating 2 out of every 3 net new jobs and today the country s 28 million small firms employ 60 million Americans half of the private sector workforce. When America s small businesses are strong and growing our communities are strong and growing. President Obama understands that to create an economy built to last one that ensures millions of hard working Americans have the opportunity to achieve the American Dream we must make sure that every entrepreneur and small business in America has the tools they need to grow. When President Obama took office in January 2009 the economy was in free-fall losing over 800 000 jobs a month. In the fourth quarter of 2008 and the first quarter of 2009 the economy shrank at an average annual rate of . Small businesses in particular were struggling under the weight of the worst economic crisis of our lifetime weak consumer demand and a credit crunch created by the Wall Street meltdown. From the moment he took office President Obama has fought tirelessly to move our economy forward and invest in entrepreneurs and small businesses so they can do what they do best take risks develop new ideas grow businesses and create new jobs. To help them expand and hire the President has signed a total of 18 tax cuts for small businesses from greater expensing to the President s signature call to eliminate capital gains taxes on investments in small businesses. The President has also established two new small business lending funds and expanded Small Business Administration lending programs which have hit an all-time record. The .

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