Small Business is American dream as well

by rdan

Preston and the Small Business Administration know about running a small business:

It’s hard work. In fact, I often say small business owners match every dollar of equity with $10 of sweat equity. But that’s also why they’re successful where others are not. America as an economy that regenerates, is flexible, and adapts to opportunity in large part because our entrepreneurial culture has taught us to dream, to see possibilities, and to act on these possibilities.
Why is this important? Since August 2003, more than 7.2 million jobs have been created—more jobs than the European Union and Japan combined. Our economy has now added jobs for 41 straight months. And American workers are taking home more pay with those jobs. Real after-tax income per person has risen by 9.6 percent – $2,840 – since the President took office.Such growth occurs in large measure because of the perseverance and productivity of our Nation’s entrepreneurs.
Nurturing the Innovators
Small businesses drive our economy. They create 70% of the new jobs and represent more than half of our non-farm private GDP.
They drive a tremendous amount of the innovation in our country; small patenting firms produce 13 to 14 times more patents per employee than their larger competitors do. Small business ownership allows people to realize dreams, not only for the owners and their families, but for those they employ and those they serve.
One of the goals of the Small Business Administration is to be a partner to entrepreneurs. Over the years, the agency has helped many of our best known corporate icons get their starts. Intel, America Online, Outback Steakhouse, Apple Computer, Amgen, Ben &
Jerry’s, Callaway Golf, Staples, Under Armour, Nike, and Federal Express all received help from one of SBA’s programs.
Today, we help entrepreneurs in numerous ways:
— The SBA lends or guarantees more than $78 billion in loans and investments;
— It helps small business procure a fair share of government contracts, a record $80 billion in 2005;

(Bolding is mine)

Well, you know more is coming from me tomorrow. DolB’s post on taxes and small business reminded me of this agency. How are they doing since 2002…they were under fire before then of course. But this current administration has streamlined rules and regulations for efficiency’s sake. Which they did…unfortunately, a few other things as well.