Anyone who saw President Obama speak last night knows that helping small businesses create jobs is the core of the American Jobs Act. The President laid out powerful, bipartisan, specific, paid-for proposals that will help put America back to work now. This includes: Cutting in half the payroll taxes for small businesses for the first $5 million in wages Temporarily eliminating employer payroll taxes for small businesses that create jobs or give raises above the prior year Extending an immediate 100% expensing write-off...
Back in the 1910s, my Grandpa Jack was working in a shoe store, but he had bigger aspirations. So, he put a few machines in the back of the store and made socks and stockings on the side. As business picked up, he started building his own textiles factories, one of which I worked at during college. Grandpa Jack’s story shows how America’s entrepreneurs have always been critical to driving prosperity. They start businesses, drive innovation, and create good jobs. Unfortunately, the recession led to a drop of about 100,000 new...
Right now, many communities in New England are still feeling the aftermath of Hurricane Irene, including major floods in Vermont. I can’t emphasize enough the importance of staying safe and listening to public officials. Flooding is still widespread and dangerous power lines are still down, so be sure to steer clear. Also, right now, many business owners, homeowners, and renters along the East Coast are coming back to find physical damage to their buildings and property. In addition, thousands of businesses are dealing...
Last week, I convened a White House Business Council roundtable in Fernley, Nevada. Like many other cities across the country, Fernley experienced economic and population growth in the recent past, only to see it suffer due to the recession and a flood that hit the city in 2008. White House Business Council roundtables are an opportunity for Council members to hear directly from business leaders around the country about their ideas for how we can continue to grow the economy, put Americans back to work, and win the future. Just as...
Today South Carolina has already seen the effects of Hurricane Irene, with heavy rains and winds soaking the coastal areas. As evacuations begin and the hurricane makes its way up the East Coast, the U.S. Small Business Administration is standing ready, prepared to respond to the long-term recovery needs of homeowners, renters and businesses across the region. The SBA has a team from our Office of Disaster Assistance in Puerto Rico, assessing the damage caused by Hurricane Irene. In addition to the 900 employees already...
Michael Hart founded Sierra Energy in California with the idea of producing iron more efficiently. But he soon found out that his new technology was even better at cleanly converting waste into energy. Today, he’s leveraging this new discovery, along with a new mentoring relationship through Startup America, to do what our nation’s startups do best: create jobs. “We started with something small and narrow but realized that the impact is global,” he said. With the help of efforts like the Entrepreneurial Mentor...
Sometimes disasters strike without warning, such as earthquakes, including the one millions of Americans felt today on the East Coast. Other times, we have a few days to prepare, like we have right now with Hurricane Irene approaching the Carolinas. In the case of any natural or man-made disaster, small business owners should have a disaster preparedness plan in place and ready to go. It’s often difficult for small business owners – some of the busiest people in America – to look beyond the most pressing,...
Working with federal agencies to empower America’s leading entrepreneurs is a key part of what we do at SBA. It’s great to see agencies like the Food and Drug Administration coming up with innovative ideas that help startups and small businesses create jobs at this crucial time. FDA Commissioner Margaret Hamburg recently announced two new efforts to strengthen entrepreneurship in the medical technology industry. The first is a new “entrepreneur-in-residence” program at FDA. FDA plans to recruit seasoned...
When a friend or family member asks what you do to help small businesses, what do you say? I’m a General Equipment operator – a driver. I transport various SBA officials to and from the Senate and House office Buildings and other places around the Washington DC area. This is my small contribution to SBA. What is your favorite thing about what the SBA does for small businesses? My favorite thing about what SBA does for small businesses is seeing people getting an opportunity to live their dreams – investing...
Today, the President announced several important new initiatives to continue strengthening the rural economy and to create jobs in rural areas. As part of the White House Rural Council’s efforts to improve federal government coordination on rural economic development, the U. S. Department of Agriculture (USDA) and the Small Business Administration (SBA) have been focused on rural small business growth. And for good reason: Half the people who work in America either own or work for a small business, and two out of three new...
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