Small Business Week

Small Business Week

Since 1963, our nation has recognized the accomplishments and contributions of America's small businesses during Small Business Week. This month we recognize the entrepreneurial spirit of America's small businesses. Recently I spoke at a small business event organized by the Department of Commerce at Miami University. I appreciated the opportunity to discuss important economic issues with the local small business community. The main topic of the event included Ohio's success in exporting products and services internationally. Ohio is a strong leader in America's exporting trends. Small and medium-sized businesses account for almost 97 percent of U.S. exporters. The growing global market makes this a strategic time for small businesses to increase export productivity, as 95 percent of the world's consumers live outside U.S. borders. Considering the large market outside the U.S., small businesses have a worldwide market to reach.

Small businesses play an important role in Ohio's large success in exporting products overseas. In 2005 Ohio exports were valued at $34.8 billion, an 11.51 percent increase from 2004. Since 1996, Ohio exports have grown over $10 billion. As American small businesses continue to increase export productivity, there is a strong impact on job creation and economic development in our local community and the state of Ohio. The future of Ohio and U.S. exports is positive, as export numbers continue to increase. Small businesses in Ohio have the resources and capacity to continue to thrive. Through my work in Congress, I am committed to encouraging the success of American small businesses. Small businesses create 70 percent of new jobs in America. Thus, it is important that American small businesses have the opportunity to compete on a fair and level playing field in the global marketplace. To address small business issues such as the high cost of health care and energy costs, I have co-sponsored the Small Business Health Fairness Act (HR 525), which would allow small businesses to pool together to purchase health insurance for workers at more affordable rates.

As affordable energy is a necessity for small businesses, I also supported passage of the Energy Policy Act (HR 6), a comprehensive energy plan which includes incentives to promote the use of alternative and renewable energy sources such as ethanol. Using more ethanol helps reduce our oil dependency, benefits our environment, and helps Ohio's corn growing farmers. Ohio currently has one operational ethanol plant and three more in the construction phase. The business spurred by ethanol plants will be good for Ohio's economy.

More recently, I introduced HR 4959, Reciprocity and Fairness in Foreign Investment Act, legislation that would ensure that countries that wish to invest in America must offer the same opportunities to American companies in their respective countries. This legislation would have prevented the controversy over selling port management of six major U.S. ports to a company owned by the government of the United Arab Emirates (UAE). Under current UAE law, an American citizen would be prohibited from owning even a McDonalds franchise. Reciprocal investment laws are necessary to ensure that American businesses have the opportunity to thrive. A healthy trade environment is essential for small businesses to have access to international markets. The Small Business Administration (SBA) is a government resource that works to strengthen small business productivity and provide recovery assistance in times of national disaster. Congress established the SBA via the Small Business Act on July 30, 1953. Over the SBA's 47 year history, approximately 20 million small businesses have benefited from direct or indirect assistance from SBA programs. The SBA's current $45 billion in loans to American small businesses distinguishes the SBA as the largest financial backer of U.S. businesses in America. The SBA provides loan and grant resources that may benefit small businesses here in Southwest Ohio. To learn more about the SBA and its loan program and grant opportunities visit the SBA website, http://www.sba.gov/financing/index.html.

As our nation recognizes the important economic role of America's small businesses, I am proud to recognize Ohio's small businesses. America's small businesses are the backbone of the American economy and essential to maintaining America's leadership in the growing global economy.

http://www.house.gov/miketurner/news/columns/4.18.06.shtml