Get Capital to Main Street to Create Jobs, Revive Communities
by Connie Evans, President and CEO, Association for Enterprise Opportunity
As the still fragile U.S. economy cranks out new jobs, with concerns that a jolt from a world event or higher interest rates could spark a slowdown, much of the public and private sectors have ignored the potential of the nation's smallest businesses to help fuel economic growth.
These microbusinesses, enterprises with five or fewer employees, comprise more than 92 percent of U.S. businesses, annually generate $4.8 trillion, and contribute to the employment of more than 41 million people. Yet public policymakers and corporate strategies barely take notice, rarely implementing policies and practices that support these businesses or understanding their power to fuel job creation.