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Giving Small Businesses a Boost

SMALL BUSINESSES ARE CRITICAL TO THE ECONOMY: Small businesses are a primary driver of the American economy and when they succeed so does the country.

  • There are nearly 30 million small businesses in the United States, employing 57.9 million American workers, according to the U.S. Small Businesses Administration.
  • 48 percent of all American workers are employed by small businesses, defined as firms employing fewer than 500 employees.
  • Historically small businesses are responsible for two out of every three net new jobs created in America.
  • Over half a million new small businesses are launched each year in the United States, creating more than 2.5 million new jobs per year, according to the Bureau of Labor Statistics.
  • Nearly half of the United States gross domestic product (GDP) is driven by small businesses, according to the U.S. Chamber of Commerce.
  • Over 97 percent of United States exporters are small businesses, according to the U.S. Small Business Administration.

REMOVING THE BURDEN ON SMALL BUSINESSES: President Trump has already taken action to remove the regulatory burdens all businesses face, particularly small businesses. 

  • Small business owners have the highest levels of optimism in over a decade according to Wells Fargo.
  • Federal regulations cost the American economy $1.9 trillion and small businesses with 50 or fewer employees face regulatory costs nearly 20 percent higher than the average for all firms, according to the U.S. Chamber of Commerce and the National Association of Manufacturers.
  • Small businesses are punished disproportionately by excessive government regulation and face $11,724 in regulatory burdens per employee versus $9,083 for firms with more than 100 employees, according to a study by the National Association of Manufacturers.
  • President Trump signed an Executive Order, which mandates that for every one new regulation, two old regulations must be eliminated in order to control regulatory costs.
  • President Trump signed into law 15 Congressional Review Act resolutions – blocking harmful Obama-era regulations from being implemented.
  • In President Trump’s first six months, the Administration has approved the fewest regulations with an economic impact of more than $100 million in more than twenty years, according to the American Action Forum.

Political advertisement paid for and approved by the Walton County Republican Executive Committee.
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