Washington (PRESS RELEASE – May 30, 2010) — NSBA today released a new report, “Squandered Opportunities and Misplaced Priorities: Why Small Business is Too Big to Fail” detailing some of Congress’ and the administration’s largest missed opportunities to fix some of the biggest problems facing small businesses in the U.S. over the last few years. Though certainly not a new phenomenon, this report highlights bills that just didn’t go far enough, proposals that took a wrong turn altogether, and initiatives that left us scratching our heads wondering, “What were they thinking?”
“There are more than 70 million people in the U.S. who work for, or run a small business – one-third of the voting population in the U.S.,” stated NSBA President Todd McCracken. “Despite that number, and the increased public profile of small business, not enough has been done to actually help small businesses survive the economic downturn.”
Two years ago, NSBA launched a campaign, Small Business: 70 Million StrongAnd Voting, to educate lawmakers, candidates and the public on the importance of small business. Since then, the U.S. economy has hit rock bottom, spurring an across-the-board recognition of the importance of small-business job creation. Unfortunately, that recognition has too often spurred empty rhetoric which has diverted our lawmakers from the real work that needs to be done.
The new NSBA report succinctly lists some of most disappointing failures of Congress and the administration, including: the absence of a long-term reauthorization of the Small Business Innovation and Research (SBIR) Program; the refusal to explicitly protect small-business credit cards; no action to fix the estate tax; and the list goes on. Additionally, the report compares the cost of enacting these key priorities to the cost of six other non-small-business initiatives ranging from the American Recovery and Reinvestment Act (ARRA) to the Troubled Asset Relief Program (TARP) to the recently-enacted health care legislation. The difference is staggering: pending small business initiatives: $358 billion; already-spent funds on other non-small-business initiatives: $2.836 trillion-a mere 12.6 percent of the funds already spent on just six non-small-business bills.
“Despite our very-well earned frustration at these many missteps, NSBA’s small-business members still believe there is a way forward,” stated NSBA Chair Keith Ashmus and co-founding partner at Frantz Ward, LLP in Cleveland, Ohio. “However, more can and must be done-small business will no longer accept rhetoric in the place of action.”
Please visit — http://www.nsba.biz/docs/70_million_report_final.pdf — to view the full report.
Since 1937, NSBA has advocated on behalf of America’s entrepreneurs. A staunchly nonpartisan organization, NSBA reaches more than 150,000 small businesses nationwide and is proud to be the nation’s first small-business advocacy organization. For more information, please visit www.nsba.biz