Small Firms Create Majority of New Jobs in October; Robust Economic Policies Can Help Keep It Up
Statement by John Arensmeyer, Founder & CEO of Small Business Majority, regarding data released Wednesday by ADP showing small businesses continue to drive job growth in the United States
Today’s employment report from ADP once again shows the smallest businesses—those with 1-49 employees—continue to outpace large businesses in the race to put America back to work. With 102,000 jobs created by small businesses in October, it continues a trend going back to January 2011 of positive job growth among our nation’s primary job creators.
However, the hole dug by the recession was deep and wage-growth has remained stagnant. Small businesses could be in an even stronger position economically if policymakers in Washington cross the partisan divide that has paralyzed them for so long and move on smart economic policies like those outlined in Small Business Majority’s Economic Agenda for America’s Future. These policies include solutions to near-term challenges, such as shoring up additional capital for small businesses through final crowdfunding rules, to strategies for long-term growth through comprehensive tax reform and strengthening the nation’s infrastructure.
Over the last two years small businesses have been hurt by the historic level of gridlock in Washington. According to the Pew Research Center, we are on pace to see one of the least productive Congresses in history. That is not what small businesses need. Two more years of this type of inaction will have dire consequences not just on small business, but our economy as a whole.
Small businesses are concerned about access to capital, a fair tax code, immigration reform, finding and retaining skilled workers, a healthcare marketplace that works, and greater demand for their goods and services. Now with the mid-term elections behind us, they need the new Congress to take those concerns to the House and Senate floor. Small businesses and our economy need lawmakers to stop talking about helping small businesses and start acting on policies that level the playing field for small firms and put them in a position to thrive and grow.
John Arensmeyer is the Founder & CEO of Small Business Majority, a national small business advocacy organization, founded and run by small business owners, to support America’s 28 million small businesses. In September, Small Business Majority released its “Economic Agenda for America’s Future,” a set of short and long-term policy recommendations government leaders can follow to ensure an environment where entrepreneurs, and our economy, can thrive.