A Quote by Karen Mills
Small businesses, you can give them capital, but what they often need as much is mentoring, advice and help with their business plan.
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It's not government that creates jobs; it's small business. Our job is to make sure they have the access to capital, the access to contracting opportunities, and the help, advice and mentoring that they need to go out and be successful.
In order to help small businesses gain access to the credit and capital they need to run their business successfully, Congress must adopt policies that support functional capital markets without imposing undue restrictions on providers of debt and equity capital.
If you talk to anyone involved in business - forget banks and big business - talk to small businesses - do it yourself, don't ask me - they'll tell you it's crippling. Small-business formation is the lowest it has ever been in a recovery, and it's really for two reasons. One is regulations and the second is access to capital for people starting new businesses.
So many organizations have a mentoring arm, but they don't really do it. Their idea of mentoring a kid is giving them general advice. But what they need to do is read with children.
Many small businesses rely on small financial institutions, like credit unions and community banks, to meet their capital requirements. Without them, these small businesses would have to close their doors.
Our party [Republicans] has been focused on big business too long. I came through small business. I understand how hard it is to start a small business. That's why everything I'll do is designed to help small businesses grow and add jobs. I want to keep their taxes down on small business. I want regulators to see their job as encouraging small enterprise, not crushing it.
We also need to reduce corporate tax rates. This applies to small, medium and large businesses. At 35 percent, we have the second highest corporate rates in the world. It restricts the growth of small enterprises that need to plow capital back into their businesses and forces companies and jobs to move overseas.
My tax plan will cut taxes for 95 percent of workers, because we need to put money back into the pockets of struggling middle-class families and close the egregious tax loopholes that have exploded over the last eight years. My plan eliminates capital gains taxes entirely for the small businesses and start-ups that are the backbone of our economy, as opposed to John McCain's plan, which would tax these businesses. John McCain is running to serve out a third Bush term. But the truth is, when it comes to taxes, that's not being fair to George Bush.
The biggest complaint from people wanting to start a business is, "I don't have capital." Banks aren't lending but if they were, it would give you a greater opportunity to screw things up. So it will help you be creative and spend less. If you have a proven business plan, share with friends and family.
I believe the best way to help our small businesses is not only through small-business loans, which we have increased since I've been the president of the United States, but to unbundle government contracts so people have a chance to be able to bid and receive a contract to help get their business going.
When a small business grows like eBay did, it has a multiplier effect. It creates other small businesses that supply it with intellectual capital, goods and services.
We in Congress need to do everything possible to encourage and cultivate small businesses, so that they can expand and create jobs. Far too often, however, U.S. small businesses are impeded by government paperwork and bureaucratic red tape.
Small business is crucial. I think we talk so much about large businesses, they're well represented; they talk well for themselves. But most people work for small businesses; most wealth that stays in a community gets generated from them.
There are myriad government programs out there to help small businesses. Few people use them effectively. The maze of information makes it difficult for any one person to understand it all, which often leads politicians, and citizens, too, to call for more programs. We don't need more government programs; we just need a better way to access them.
It is my hope that by reducing the tax burden on small business owners that we can help them grow their businesses and, in doing so, create jobs.
We've had this program for a number of years now, called 10,000 Small Businesses, where Goldman Sachs has convened a group of partners to basically give business education to small business owners.
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