A Quote by Mike Simpson
Estimates show that small businesses contribute 60-80 percent of the net new jobs annually.
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Our economy creates and loses jobs every quarter in the millions. But of the net new jobs, the jobs come from small businesses: both small businesses on Main Street and many of the net new jobs come from high growth, high impact businesses that are located all across the country.
More than 60 percent of small businesses face payment delays. That can cause a serious cash flow crisis. So, as president, I will explore new ways to arm small businesses with the tools to fight back and level the playing field.
As you probably know, half of the people who work in this country work for small businesses. And it's more than that, because two out of every three net new jobs come from small business. So we mean it when we talk about small business being the engine for the economy.
80 percent of the Dutch jihadists who go to fight in Syria are Moroccans. 80 percent. They are 22 times over represented when it comes to street crime, and 60 percent of the Moroccan youth under the age of 23 has been arrested at least once.
Business creates jobs; government does not. Government creates a whole slew of jobs each time a new program or scheme is implemented, but always at the expense of the taxpayer. Small businesses invest in new businesses, which results in more jobs.
Small businesses provide 75 percent of new U.S. jobs and are the backbone of our economy, and no outdated ban should be keeping small business owners from collecting the same interest their money could earn if it were held by an individual.
By 2018, automation is going to be in full swing in the United States and around the world. There are estimates that it could replace 50 percent of our jobs. That is an enormous shift. But even if we go through a phase where we have an unemployment valley from automation, there will be new jobs and new things for us to do.
And what's interesting, and I don't think a lot of Americans understand this fact, is that, one, most new jobs are created by small businesses; two, most small businesses pay tax at the individual income tax, or many small businesses pay tax there.
Among our responsibilities is to make sure that 23 percent of all government contracts go to small businesses. That's about $150 billion annually, from all the government agencies.
Economists often talk about the 80/20 Principle, which is the idea that in any situation roughly 80 percent of the “work” will be done by 20 percent of the participants. In most societies, 20 percent of criminals commit 80 percent of crimes. Twenty percent of motorists cause 80 percent of all accidents. Twenty percent of beer drinkers drink 80 percent of all beer. When it comes to epidemics, though, this disproportionality becomes even more extreme: a tiny percentage of people do the majority of the work.
But in the business I had, we invested in over 100 different businesses and net-net, taking out the ones where we lost jobs and those that we added, those businesses have now added over 100,000 jobs.
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.
The Obama administration is not helping small businesses create jobs. In fact, it is responsible for the regulatory uncertainty nearly 50 percent of small-business owners cite as responsible for their lack of hiring.
[Obamacare] premiums are going up 60 percent, 70 percent, 80 percent. Next year they're going to go up over 100 percent. And I'm really glad that the premiums have started - at least the people see what's happening.
The government's Small Business Administration reports that small businesses represent 99% of all employers in the U.S. and are responsible for generating well over half of new jobs created.
Small businesses pay 18 percent more than big businesses for health care, the same health care, just because they're small and they have too small a pool of risk.
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