There has been much discussion about the state of our economy, particularly over the past six years, since the collapse of the housing market. Many pundits weigh in with their solutions to our economic woes. Although I do not have a degree in economics, I have run and grown a small business for several decades. Providing my perspective on the economy from this vantage point is what I offer.
Since our country was founded, people arrived at our shores with the promise of freedom. In particular, people from across the oceans came to the United States to explore opportunities for a better life. Small businesses were started by people with a spirit of entrepreneurship and an idea, a product or service that could be sold to others. At the core of every small business is a person with a willingness to take a risk to succeed and yes, to fail. And, most big corporations came into being by an entrepreneur who took a concept and who developed a business from it. In the end, they provided people with things they needed or simply wanted.
What makes our country great and our economy strong is when opportunities to create small businesses are welcome. Government does have a role to play in this process. When the government provides the infrastructure necessary for commerce and provides incentives for people to be creative, the recipe for economic success begins. This is the great American dream…to be able to take an idea and build it into a successful business. This concept creates jobs and stimulates the economy.
What is needed now more than ever, is freedom in the marketplace in order to jump-start the economy. Relaxing tax and regulatory burdens on small businesses is a great place to start in order for job opportunities to thrive. Most people want a great job, one where they can provide for themselves and their families without government assistance. In order to accomplish this, people need opportunities that thriving small businesses can provide.
As a small business owner, creating and maintaining jobs for my employees is of utmost importance to me. Being a profitable company allows me to do this. Keeping government regulations at a minimum and reducing our tax burden allows me to be more profitable and create more jobs. This is the American dream.