Carol’s recent post on entrepreneur.com is on a topic many small business owners are thinking about: How will – or should – things change for small business with the new administration? In “Here Is What Small Business Needs From the Trump Administration,” Carol shares her thoughts on what the top priorities should be. She begins:
“As President-Elect Trump is busy at work filling his Cabinet positions, the one area that may be among the most important, but is among the least talked about, pertains to small business.
Small business and entrepreneurship are at the center of creating jobs and growing the economy, which are key pieces of Trump’s stated focus. While previous presidents, including President Obama, have raised the Administrator of the Small Business Administration to a Cabinet-level position, Trump should continue his out-of-the-box thinking and make a small business Cabinet position even more front and center in his own administration.
As a leading small business advocate for the greater part of the past decade, I’ve identified several key areas that Trump’s appointee should be able to navigate in order to add full value to the administration, as well as the 28 million small businesses (and tens of millions of freelancers) currently at the center of our economic engine.
Knowledge of the small business universe and ecosystem.
Because there are so many different types of small businesses, the small business universe has been a conundrum for government and private entities to target, reach and assist them. Around 22 million small businesses in the US have no employees. Approximately 6 million do have employees. Traditional “Main Street” businesses, typically financed by the entrepreneurs themselves, are in the majority. Venture capital funds a fraction of a percent of all start-up and small businesses, but those are the ones with the most growth potential.
Knowing this variability amongst the different types of businesses and their different needs is critical to advocating for all of them, as is the ability to network on Main Street, K Street and in Silicon Valley alike.”
Catherine Morgan is the editor of Business Unplugged ™, an engaging speaker, and the founder of Point A to Point B Transitions Inc., a virtual provider of coaching services to individuals who are in business or career transition. Catherine is the author of the eBook Re-Launch You: Discovering Your Point B and Embracing Possibility. An experienced independent consultant and former employee of three of the former Big Five consulting firms, Catherine combines strategy development with accountability coaching. Her productivity tips and career transition advice have been featured on WGN AM 720 and WIND AM 560 The Answer in Chicago, and on WCHE AM 1520 in the Philadelphia area. Catherine speaks frequently on topics related to productivity, career transition, small business, and entrepreneurship. She doesn’t take herself seriously, but takes her subject matter very seriously.