Bring Small Businesses Back Tour Stop/Gwinnett Chamber of Commerce
For American small businesses, the recession never ended. While they have recovered somewhat from the depths of the Great Recession, they still haven’t returned to their pre-recession peaks—nearly seven years later. And while the economy as a whole has been stagnant, a host of new regulations and taxes threaten the growth of small businesses even more. According to top indicators, small businesses are still operating in a purgatory between recession and recovery.
New small business polling* data by The Job Creators Network finds that only 19 percent (one in five) of small business owners plan to hire additional employees over the next year. And only 27 percent (fewer than one in three) think that doing business will be easier over the next year. Numerous other indicators tell a similar story of an ongoing stagnation of American small businesses.
The implications of small business struggles are serious. Small businesses account for half of all jobs and two-thirds of new jobs created in the United States. They represent about half of the economic output of the country. As small businesses goes, so goes the American economy as a whole.
Drawing on numerous indicators, this report will reveal the state of American small businesses and highlight the main impediments to its flourishing. Though there are numerous reasons for its ongoing stagnation, a new poll*, which is backed up by other indicators, finds that the main reasons are (1) over taxation, (2) over regulation, and (3) a lack of access to capital.
These happen to be impediments that are entirely within policymakers control to fix. Meaningful policy reform to bring small businesses back, finally get the economy going again, and provide opportunity for millions of American employees must address them.
*National poll of 408 small businesses conducted by Connection Strategies on January 7th and 8th, 2016.
Congressman Rob Woodall/7th district of GA in the U.S. House of Representatives
Rob Woodall serves the 7th district of GA in the U.S. House of Representatives and serves on the House Committee on Rules, the House Budget Committee, and the House Transportation and Infrastructure Committee.
Rob was born and raised in Georgia, graduated from Marist School in 1988, attended Furman University for his undergraduate degree and received his law degree from the University of Georgia.
Rob first came to public service as a staffer for then Congressman John Linder serving as his Chief of Staff and was elected to Congress in 2010.
Rob’s political philosophy is guided by the principles of freedom, and his proudest accomplishment is helping Seventh District families one at a time through casework and creating a Congressional office that functions for the people.
—————————————————————————————————————
“On the Money” focuses on topics and issues allowing small businesses to better navigate the financial services minefield, with analysis and opinions from today’s industry experts on banking and loans. “On the Money” also introduces you to some of the top small business leaders in the Atlanta market.
Hosted by Joe Moss, the president of Embassy National Bank, “On the Money” airs live every Wednesday at 3:00 PM EST from the Business RadioX studio in Gwinnett.
