|
|
|
No Small Feats
|
Business New Haven
6/9/2003
By: BNH
|
Congratulations to the Connecticut Small Business winners.
As we recognize the small-business community's contributions to America's economy and society, the New England Regional Office of the U.S. Small Business Administration adds its best wishes to all those in Connecticut who have succeeded in launching small businesses and to those who have given their time as small-business advocates.
Americans are starting or expanding small businesses in record numbers. Small-business owners currently employ more than half of the American workforce and are on the leading edge of business innovation. America's small businesses - over 25 million strong - are the engine that powers our economy.
The more than 25 million small businesses in America employ 52 percent of our private workforce and are responsible for 51 percent of the country's gross domestic product. The U.S. has the highest business start-up rate in the world. This is because we have more open markets, more access to capital and lower interest rates.
One of the keys to this is the SBA. Last year, the SBA guaranteed more than 6,000 loans totaling more than $746 million to small businesses throughout New England. That includes 1,017 loans totaling $188.6 million in Connecticut alone.
This year we honor the best of the best: those Small Business Winners in each state who have demonstrated what an integral part of the American dream the entrepreneurial spirit is. Businesses like Horizon Services Inc. [in East Hartford]. Ted Hsu had a dream, and with assistance from the SBA 8(a) program he made it come true. Ted is one of thousands of success stories that have created new jobs and new futures for countless others.
A strong and prosperous economy is an essential element for homeland security, and small business will play a key role in strengthening the American economy. Small business is at the heart of President Bush's plans to strengthen and improve our economy. His economic agenda has small business at its core and will encourage consumer spending to hasten our economic recovery. His agenda will promote investment by individuals and businesses that will lead to economic growth and job creation.
Under the President's plan, millions of small business owners would receive tax cuts this year averaging $2,000. An increase in the new investment deduction from $25,000 to $75,000 will encourage small-business owners to purchase technology, machinery and other equipment to expand and grow their businesses. Repeal of the death tax will help in the transfer of a small business to the next generation and new, innovative policies on health care would help small-business owners provide health care for uninsured employees and improve health-care options for those with insurance.
This is a time to thank our nation's entrepreneurs for their tremendous contributions, to provide them and others with whatever tools they need to make their dreams come true and to grow and expand opportunities for small businesses to keep our economy growing. They are our future.
- Jeffrey H. Butland
Regional Administrator
U.S. Small Business Administration
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
