Issue Position: Small Business

Issue Position

Small businesses, generally defined as private for profit firms with fewer than 500 employees, are the key to the health of the U.S. economy. Small businesses represent 99.7% of all employer firms, employ about half of all private sector employees, pay nearly 45% of the U.S. private payroll, and are responsible for more than half of non-farm private GDP. Since the mid-1990's small businesses have created 60-80% of the net new jobs in the United States. As a Member of the House Committee on Small Business, I am constantly examining ways that Congress can address the needs of our nation's small businesses, especially those in the 11th District.

Small businesses have experienced difficulties in this challenging economy. More than half of the 763,000 jobs lost in the first half of 2008 were lost in small firms. Small firms continue to face a tough environment through 2009, with concerns in a wide range of areas including access to capital, the cost of providing health insurance, attracting a quality work force, and meeting the unique 21st century global competitive challenge.

As our economy bounces back, small firms will play a leading role in revitalizing the nation's workforce. Congress and the Administration have directed $15 billion in tax relief to small firms, generated $21 billion in small business lending and investment, and created more than $30 billion in contracting opportunities for entrepreneurs. Congress has acted to modernize and enhance SBA research and development programs, improve entrepreneurial development programs, create jobs in the coming green economy, and support veterans interested in entrepreneurship.

I will continue to fight to ensure that small businesses get their fair share of federal contracts, gain access to the most innovative technologies, and are given the type of development assistance needed in today's competitive global market.

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