Access to capital

Our nation’s smallest businesses—those with 1-49 employees—continue to outpace large businesses in the race to put America back to work. Businesses with fewer than 50 employees created more than half of all new jobs last month, and, from April to May, they boosted the actual number of jobs they generated by 16 percent, according to data released Thursday by Automatic Data Processing, Inc (ADP). Small businesses overall accounted for more than 93 percent of all new jobs last month, while large businesses created just 6.8 percent of new jobs.

The bipartisan Jumpstart Our Business Startups (JOBS) Act, signed into law by President Obama today, will help address one of small business owners’ biggest problems: a lack of access to capital. Lawmakers from both sides of the aisle came together to work for the good of small businesses with this act, which is what our nation’s job creators need right now. However, we strongly encourage legislators not to stop here. This bill will give startups a boost, but existing brick-and-mortar Main Street small businesses also need help.

The bipartisan Jumpstart Our Business Startups (JOBS) Act, which passed the Senate today after being previously approved by the House of Representatives, will help address one of small business owners biggest problems: a lack of access to credit. Recent opinion polling we released found 90 percent of small businesses say the availability of credit is a problem.

The budget proposal President Obama released today keeps the spotlight trained on small businesses’ key concerns: enhancing access to credit, investing in job-creating infrastructure projects and boosting small business provisions in the Affordable Care Act.