Many Americans today are worried. With a large number of people dependent on small businesses for their livelihood, I can be confident that many are therefore understanding of the pressure that I endure as a small business owner.
With the current inactivity in Washington, DC on both sides of the aisle businesses are at a standstill. Democrats and Republicans alike are mutually responsible for our prolonged economic downturn. Money is not being invested, credit is not being offered, and jobs are not being created. In this economic climate it is a reality that all small business owners are working to keep their head above water.
The commitment has been made by our government to spend billions of dollars on job training programs. Yet, we can’t simply throw money at a problem and think it will solve everything. We need to improve how we evaluate and deliver training programs to ensure they are in line with the job skills gap that is evident in today’s workforce. We need to follow job training all the way through to ensure that as many Americans as possible will have not only a brighter future after completing a job training program, but will have an actual job they can report to once training is complete.
Whether its baby boomers changing careers or millennial college graduates entering the workforce, finding a job today is difficult. Companies and small businesses are thinking very carefully about every hire, especially with the unstable nature of our economy, which has yet to fully recover.
With the state of America’s economy and the role small businesses play as the economic engine that runs our country, it is small business owners and entrepreneurs who will lead our nation and Main Street in job creation and improving our local and national economies.
The Small Business and Infrastructure Jobs Tax Act of 2010, which provided assistance and relief to entrepreneurs and small businesses all around the country, was a good step by Congress but did not go far enough. The bill added an increase in the deduction for start-up expenditures, increasing the limit on the tax deduction for trade or business start-up expenditures and helped small businesses grow.
Unfortunately, more needs to be done. And it needs to be done now.
Small businesses can’t grow without access to working capital. For entrepreneurs and small businesses to grow and hire folks, lines of credit, loans and other debt financing need to reopen for our nation’s small-business owners. Access to credit is the lifeline necessary for our economy to turn the tide.
In the end, small business is the engine that will lead us to economic revitalization and growth. Only when Main Street is back on track will our economy follow suit.
As the job-creation engine of America, small businesses employ more than half of the American work force and have created more than 60 percent of all new jobs over the past 15 years. During this election cycle it is our duty as small business owners and American citizens to make sure our political candidates answer the tough questions on the economy during the 2014 election cycle. Let them know that more needs to be done.
Caucci is the founder of the Sales Huddle Group, Inc.