Both Hillary Clinton and Donald Trump were doing their best to appeal to small business owners on the campaign trail. The Presidential candidate, Hillary Clinton recently rolled out what she terms a job-creating package of developments to jumpstart small business startups especially.
Karen Mills, a former advisor of Clinton’s campaign, told in an interview that she considers Clinton can move plans on paper into solutions in an effort to have an effective consequence on small business owners.
Mills said that “my experience of working with her over the years is that she is actually good at taking those schemes and finding a way to make them happen.” Mills additionally served for President Barack Obama as the administrator SBA from 2009 until August 2013. “She understands it doesn’t matter when you’ve good policy if it’s not favorable for small businesses.”
She also added that small businesses—which produce almost two-thirds of jobs, are key for economic development.
She said it is true that small businesses are the lifeblood of the entire US economy.” “Almost 50% or more people in the US work as a small business or for a small business … What this really means in Washington is that small business has to have a seat on the policy table when you’re considering about the way to drive the economy.”
Clinton’s father was also a small business owner; has highlighted that her small business plan is a major priority and intends to appeal to the range of 28 million small businesses and small business owners that come in different sizes and shapes.
Mills added that when Clinton says that she wants to be the “small business president”, she understands the importance of it and she is saying it for a reason. This is how we are going to power the future, this is how we are going to have innovation, and this is how we are going to have the America develop.”
Here is Hillary’s plan to make the life of small businesses easier at every step of the way. She will:
- Make it easier to start a small business and become profitable
- Make it easy to get financing and find investors
- Make it less expensive and faster to file taxes and provide tax relief
- Make it easy to offer health care and different advantages to workers
- Make it easy to work with the federal government
- Make it simpler to fight back when you’re getting stiffed
Small businesses got hit considerably at some stage in the recession and have yet to get better. For instance, small business loans include only 29% of the total bank loans in 2012 as opposed to 51% in 1995.
Mills said that “what happens in a financial disaster is that those entities that are credit dependent get hurt the most. And small businesses are dependent on banks”. “What we noticed turned into a fairly quick recovery for large business and for the stock market and a gradual and potholed recovery for small businesses.”
To cope with the difficulty, Clinton’s plan suggests cutting red tape for credit unions and banks. Clinton additionally has suggested allowing business owners to put off student loan payments with no interest at the same time as they get their ventures off the floor.
The actual break is between the underprivileged markets and small business loans, Mills added. She said that if we don’t have an inclusive view of access to working capital, we are not going to get all of the jobs from all of those business owners”.