Ed. Note: This blog is by Valerie Jarrett, Senior Advisor and Assistant to the President for Intergovernmental Affairs and Public Engagement and first appeared on WhiteHouse.gov
This Saturday, November 30th, I will join a number of White House and Cabinet Officials, along with millions of Americans around the country, in paying tribute to small businesses, which drive our economy, and help to define the spirit of our communities.
I will be spending Small Business Saturday in Chicago, to start on my holiday shopping, and reacquaint myself with the small businesses lining my hometown streets, and breathing life into my neighborhood.
There is of course, no need to wait for Small Business Saturday to enjoy the local delicacies and the unique goods being sold in our communities. It can be a concerted effort throughout the year, and an ongoing priority for all Americans. The President certainly sees it that way, and has made support for small business a top priority every day he has spent in office.
Small businesses are the engines of our economy, and the key to creating jobs for hard working Americans. That’s why President Obama has signed 18 direct tax cuts for small businesses, bolstering their growth, and providing credits for new equipment, and the hiring of veterans and unemployed workers. His Administration has supported over $93 billion in lending to more than 166,000 small businesses nationwide. President Obama has worked to expand and speed up payment on government contracts to small businesses. The Obama Administration has repealed the last Administration’s rule requiring that the IRS withhold 3 percent of contractors’ income. And the passage of theSmall Business Jobs Act in 2010 created the Small Business Lending Fund and theSmall Business Credit Initiative to help small businesses gain access to capital, and begin creating jobs in their communities.
All of these efforts, when combined with the everyday support of consumers who choose to shop at local and family owned stores, will help America’s small businesses continue to thrive.
It is more important than ever that we all do our part to recognize and reward the entrepreneurial spirit which has defined our country for centuries. Small businesses have always served as anchors in our communities, providing jobs, unique goods and services, and support for valuable neighborhood organizations. When we spend our hard earned money to support the dedication and commitment of our neighbors and their businesses, everyone wins.
Please join me in “shopping small” this Saturday, and be sure to keep an eye out this weekend for more on the Administration’s efforts to highlight Small Business Saturday.