To kick off National Small Business Week , which started yesterday (May 16) the president’s National Economic Council released President Barack Obama’s plan for helping spur small business growth.
The report, called “The Small Business Agenda: Growing America’s Small Businesses to Win the Future,” highlights ongoing plans to support and grow the country’s vital small business sector.
“Small businesses are the backbone of our economy and the cornerstones of our communities. They create two of every three new jobs in America, spur economic growth, and spark new industries across the country,” said Obama in a statement. “We will continue to create new incentives to help small business owners hire new workers, promote growth and do what America does best — invest in the creativity and imagination of our people.”
Highlighted in the report are details of what the president has been doing to aid small business since taking office.
It claims the president has enacted 17 tax cuts for small businesses, including billions of dollars in tax credits, write-offs, and deductions for Americans who start or invest in small businesses or hire and provide health insuranceÂ for small business employees .
The report also says the president has increased access to small business capital by helping fund community banks to increase small business lending, launching the State Small Business Credit Initiative to support up to $15 billion in small business lending through innovative state small business programs, and launching new Small Business Administration programs to increase small-dollar lending to spur business growth among women, minorities, veterans and others in underserved communities.
The White House also says that it has opened up more federal contracting opportunities to small business owners and has attempted to aid small businesses by creating more exporting opportunities and providing support through the Department of Commerce’s ExportTech program.