Making Money host Charles Payne explains the importance of a groundbreaking new small business report.
Susan P. Clark, president and CEO of the U.S. Chamber of Commerce, delivered a speech Thursday on the “State of American Business,” highlighting the importance of and the local impact of businesses. small business,
According to a Chamber report published last year, small businesses are responsible for employing nearly half the American workforce and driving about 43.5% of the US gross domestic product (GDP). Clark’s speech emphasized the importance of small businesses – including businesses like franchises, which some people may not consider small businesses. local economies,
Clark explained, “The state of American business is local because businesses serve people where they are. And if you think about it, that makes all businesses local.” “Of course, this is true, both for small businesses operating on Main Streets and for locally headquartered businesses that employ hundreds or even thousands of people in a community and drive its economic ecosystem.”
This is also true of the national chain restaurant where you took your first job. The technology company that makes the equipment and the Internet service provider that together enable you to work from your kitchen table or your home office. Energy Producers that power your vehicles so you can drive across town, institutions that provide financing so you can start a business in your basement,” Clark said.
‘Bidenomics’ under fire: Small business earnings fall despite GDP growth
In her speech, Suzanne Clark, President and CEO of the US Chamber of Commerce, spoke about the importance of small businesses and the local impact of all businesses. (David Kawai/Bloomberg via Getty Images/Getty Images)
“Wherever a company, service, product or solution originates, its impact is always local. Because local is where we live our lives,” he said.
Chamber President and CEO also discussed its importance global trade For small, local businesses as well as the American economy at large.
To promote economic growth, America must participate in the global economy,” Clark said. “There are opportunities to boost trade, which already supports 40 million American jobs, and make more affordable the goods and services we all need to expand exports and help small businesses access global markets. There is a need to make it more affordable and welcome imports. Increase consumer choice And keep prices low.”
Small business optimism hits six-year high after Trump’s victory
Last year the Chamber of Commerce reported that small businesses employ nearly half of American workers. (Lane Turner/The Boston Globe via Getty Images/Getty Images)
Clark gave his speech in Dallas, Texas and said that Dallas-Fort Worth Metroplex Shares some similarities with other economically vibrant areas of the country.
Those characteristics include a diverse industrial base, low unemployment and a deep pool of talent, as well as “a healthy mix of small businesses – serving and enriching their communities, and large businesses – bringing jobs, economic activity and tax revenue“ Plus infrastructure, access to global markets and an innovation ecosystem.
Small businesses are still struggling: ‘I still don’t have to bring home a single dollar’
Clark delivered his speech from Dallas, Texas and noted the characteristics that have made the Dallas-Fort Worth metroplex an economic powerhouse. (Kirby Lee/Getty Images/Getty Images)
He said that although many communities are not experiencing that level of growth, the United States should strive to ensure that communities are not left behind economically and doing so depends on ensuring that conditions are favorable for commerce. There are circumstances.
“We all know there are a lot of places, a lot of communities, that don’t feel the energy, that don’t see growth,” Clark said. “We must become a nation where local communities are not left behind. Where there are no food deserts, where crime does not crowd out commerce, where private investment is welcomed, where young people want to stay and return and businesses and Want to build careers where people can move forward and support their families.”
Get Fox Business by clicking here
He said, “Not every community can, should or wants to be the next emerging metropolis, but they all want economic opportunity that offers the promise of quality of life and opportunity that all Americans want.”
