Startup Sunday
President Barack Obama last week unveiled a host of initiatives aimed at encouraging job growth in the sector most responsive to economic recovery, small business. In speeches and Congressional testimony about the package, the White House message to small business is loud and clear: lead the way out of recession.
"Over the past 15 years, small businesses have created roughly 65 percent of new jobs in America. These are companies formed around kitchen tables and family meetings; formed when an entrepreneur takes a chance on a dream; formed when a worker decides it's time she became her own boss," Obama said in remarks to Maryland small business owners on Friday. "It's worth remembering every once in a while, a small business becomes a big business, and then changes the world."
The package aims to encourage hiring with a $5,000 tax credit for each new employee, to free up capital through $17.5 billion in additional small business loan guarantees, to increase those loan limits, to let firms refinance their commercial real estate loans under the Small Business Administration and to use funds from the Wall Street bailout so community banks can make more loans to small companies.
If you're a small business owner, what are the biggest problems facing you today? What do you think about the White House message to small business, and what would your response be?
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