Switchfast Blog: The Future of IT
President Obama Promotes the Power of Small Business
Thursday, July 29, 2010 by Bryan Anderson
Large corporations may be battling through economic shortcomings
and political criticism, but the small business industry has taken
off as a prime source for economic revival. If you have any doubt
about the influence of small businesses on America, just ask the
government's primary small business supporter: President Barack
Obama.
The President of the United States, according to a Boston.com article, made another attempt at
swaying the Senate to "ditch its partisan mode long enough to pass
a package of tax cuts and loan relief for small businesses." Not
only does he preach the power of small business, but he practices
it as well. The President held a talk at Tastee Sub Shop in Edison,
N.J., a tiny one-story building meant to "serve as the essence of
the American small business."
Later on in the article, President Obama reiterated his views
regarding aid to small businesses:
"Helping small businesses, cutting taxes, making credit
available... This is as American as apple pie. Small businesses are
the backbone of our economy. They are central to our identity as a
nation-they are going to lead this recovery."
The United States isn't the only country investing in the
success of small enterprise. The government of Canada, with the
commitment from Canada's Economic Action Plan, recently contributed
over $750,000 to support "innovative research and development
projects that will assist in developing high-tech solutions for
global markets." According to the article, the Economic Action
Plan has provided $200 million over the last two years to support
innovative Canadian firms.
The motivation behind Canada's Economic Action Plan is to "help
SMEs develop technologies and successfully commercialize them in a
global marketplace... also, to provide science and technology
expertise to SMEs."
While government supports small business growth, no one is more
excited than the small business entrepreneurs. In the annual NYSE
Euronext CEO Report, taken from Marketwatch.com, CEOs of small and medium
enterprises are "the most bullish about their growth prospects
through 2011," citing that 4 in 10 (38%) small business CEOs expect
"significant growth within their companies."
A quote from Global Managing Director of Opinion Research
Corporation Jeff Resnick sums up the new findings: "Innovation and
entrepreneurship have always been the key ingredients for the
success of emerging business."
Are you seeing the same enthusiasm and promise throughout your
local small business community? Are there signs that the economic
turnaround may already be happening on a micro level?
Until next time -
Matthew Hymel
Switchfast Technologies
Chicago IT Support &
Consulting
Rochester
IT Support & Consulting
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