President Obama Proclaims May 15-21 National Small Business Week 2011; Small Businesses Help Put Country Back on Track

President Barack Obama [pictured] hailed small-business owners as the backbone of the nation’s economy in his proclamation of the week of May 15-21 as National Small Business Week. The President declared those men and women to be the embodiment of America’s promise: "The idea that if you have a good idea and are willing to work hard enough, you can succeed in our country."

The President’s proclamation was issued before the U.S. Small Business Administration’s 48th annual observance of National Small Business Week in Washington, D.C. [May 18-20]. The event honors outstanding entrepreneurs from across the country, and features announcement of the 2011 National Small Business Person of the Year, who is selected from among 54 small-business award winners from 50 states, D.C., Guam, Puerto Rico and the Virgin Islands.

The President’s proclamation states: "Our country started as an idea, and it took hard-working, dedicated, and visionary patriots to make it a reality. A successful business starts much the same way -- ideas realized by entrepreneurs who dream of a better world and work until they see it through. From the family businesses that anchor Main Street to the high-tech startups that keep America on the cutting edge, small businesses are the backbone of our economy and the cornerstones of America’s promise.

"Throughout our economic recovery, persevering small businesses have helped put our country back on track. Countless new and saved jobs have come from small businesses who took advantage of tax relief, access to capital, and other tools in the Recovery Act, the Small Business Jobs Act, and other initiatives launched by my Administration to put Americans back to work.

"To ensure the stability of our recovery, we must continue to provide new opportunities for small-business owners and the next generation of entrepreneurs, who will help us out-innovate and out-build our global competitors to win the future.

"To support high-growth businesses, my Administration has launched Startup America, an initiative that will strengthen access to capital and mentoring, while reducing barriers to growth for small businesses. Entrepreneurship is essential to the strength and resilience of our economy and our way of life. Startup America will give entrepreneurs the tools they need to build their business into the next great American company.

"To encourage innovation, we released the Strategy for American Innovation, a report outlining my Administration’s plan to harness ingenuity. This means investing in the building blocks of innovation -- like education and infrastructure -- while promoting market-based growth through tax credits and effective intellectual property laws.

"The National Export Initiative is working to open markets to American businesses and support small exporters, who increase American competitiveness abroad and create good jobs here at home. We continue to create opportunity for businesses in underserved communities through new lending initiatives, expanded access to counseling, and technical assistance.

"We are also working to provide small businesses more opportunities to compete for federal contracts. This gives federal agencies access to some of our country’s best products and services while helping these businesses grow and employ community members.

"Through these and other initiatives, we are supporting the entrepreneurs and small businesses that provide work for half of American workers, and create two out of every three new jobs.

"Small businesses embody the promise of America: that if you have a good idea and are willing to work hard enough, you can succeed in our country. This week, we honor and celebrate the individuals whose inspiration and efforts keep America strong."

The full text of the President’s National Small Business Week proclamation can be found at:
http://1.usa.gov/NSBW2011.

National Small Business Week 2011 will be highlighted with two-and-a-half days of events in Washington, D.C., at the Mandarin Oriental Hotel, where more than 100 outstanding business owners from across the country will be recognized. In addition to the State Small Business Persons of the Year, men and women involved in disaster recovery, government contracting, small-business champions, as well as SBA partners in financial and entrepreneurial development, will be honored.

Under the National Small Business Week 2011 theme of "Empowering Entrepreneurs," featured speakers include Sen. Jack Reed [D-R.I.]; Sen. Mary Landrieu [D-La.]; Valerie B. Jarrett, senior advisor to President Barack Obama; Steve Case, co-founder of AOL and chair of Startup America Partnership; Cathy Hughes, founder and chairperson of Radio One, and chair of SBA’s Council on Underserved Communities; SBA Administrator Karen Mills and SBA Deputy Administrator Marie Johns.

A complete agenda for the event is posted at http://bit.ly/AgendaNSBW. Also featured are a series of executive panel forums on Strategies for High Growth, Exporting and Social Media. The public can "attend" Small Business Week events virtually, via the SBA’s streaming video on the Web at http://bit.ly/WebcastNSBW.

Small Business Week 2011 co-sponsors include: Association of Small Business Development Companies, AT&T, AVAYA, CareerBuilder, Dun & Bradstreet, Google, International Franchise Association, Intuit, Lockheed Martin, Microsoft, National Association of Development Companies, National Association of Government Guaranteed Lenders, National Association of Small Business Investment Companies, National Association for the Self-Employed, National Small Business Association, Nomadic Display, Northrop Grumman, Office Depot, Raytheon, Sam's Club, SCORE, The Neat Company, Verio, Visa, the Wall Street Journal, and Women Impacting Public Policy.

SOURCES: U.S. Small Business Administration, The White House
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SBA Administrator Explains Important Health Care Tax Credit Info for Small Businesses

Administrator Karen Mills [pictured], of the U.S. Small Business Administration [SBA], has just written an open letter to small-business owners across the United States, explaining the immediate benefits available to small businesses as part of the Affordable Care Act.

Following, is the full text of her letter:

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Dear Small-Business Owner,

For decades, access to affordable health insurance has been the No. 1 concern of small-business owners. To help you address that concern and provide quality, affordable coverage for your employees, the new Affordable Care Act gives you a number of new tools and benefits.

The most immediate benefit you should know about is the tax credit to help you pay for up to 35 percent of your employee premiums starting this tax year. An estimated 4 million small businesses may qualify for these tax credits, totaling about $40 billion over the next 10 years. Go here to learn more about the tax credit, including new information that explains how this federal credit is in addition to state-level credits you might receive, and how dental and vision coverage are also eligible for the federal credit.

The Affordable Care Act also included reporting requirements if you pay another business $600 or more, starting with 2013 filings. Small-business groups have voiced concerns about the possible burden this places on people like you. That’s why the IRS is already planning to exempt from this requirement your transactions that use credit and debit cards.

Also, the IRS, SBA and others in the Administration are looking for additional ways to minimize burdens and avoid duplicative reporting. We welcome your comments and input as we move forward together to address implementation issues under the new law.

Over the last 16 months, this Administration has taken steps to provide tax relief that puts more money in the hands of small-business owners like you -- including write-offs for new equipment, credits for hiring unemployed workers, and capital-gains exclusions for small-business investors. We know that sensible tax relief like this will help you grow your business, create new jobs, and continue drive America’s economic recovery.

With warm regards,

Karen Mills

* * *

For detailed information about the new Small Business Health Care Tax Credit, visit IRS.gov: http://bit.ly/SmallBizTaxCredit.

SOURCES: Internal Revenue Service, U.S. Small Business Administration, The White House
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President Obama's First 100 Days Include $730 Million Jump-Start for America's Small Businesses

Today, as the nation marks President Barack Obama's first 100 days in office, small businesses can celebrate the strides that Obama has made on our behalf -- primarily, via the landmark American Recovery and Reinvestment Act of 2009 [Recovery Act], which he signed into law on Feb. 17, 2009. It is an unprecedented effort to jump-start America's economy; create or save millions of jobs; and put a down payment on addressing long-neglected challenges, so that our country can thrive in the 21st century.

The economic stimulus bill is an extraordinary response to a crisis unlike any since the Great Depression, and includes measures to modernize our nation's infrastructure; enhance energy independence; expand educational opportunities; preserve and improve affordable health care; provide tax relief; and protect those in greatest need.

Recovery Act Provides $730 Million to SBA
According to the U.S. Small Business Administration [SBA], the Recovery Act will have a significant impact on small businesses and on the credit crunch, providing tax incentives and financing opportunities that will help us create jobs.

The Recovery Act makes SBA part of the solution, providing it with specific tools to make it easier and less expensive for small businesses to get loans, give lenders new incentives to make more small business loans, and help unfreeze the secondary markets to boost liquidity in the credit markets.

More details on implementation will be coming during the next few weeks. For now, though, take note that the bill provides $730 million to SBA, and makes changes to the agency’s lending and investment programs so that they can reach more small businesses that need help.

The funding includes $375 million for temporarily eliminating fees on SBA-backed loans and raising SBA's guarantee percentage on some loans to 90 percent. The elimination of fees, announced on March 16, will remain in effect until the end of the calendar year or until the funding is exhausted. The elimination of fees is retroactive to the day the Recovery Act was signed into law.

Additional funding provisions include:

* $255 million for a new loan program to help small businesses meet existing debt payments

* $30 million for expanding SBA’s Microloan program -- enough to finance up to $50 million in new lending and $24 million in technical assistance grants to microlenders

* $20 million for technology systems to streamline SBA’s lending and oversight processes

* $15 million for expanding SBA’s Surety Bond Guarantee program

* $25 million for staffing up to meet demands for new programs

* $10 million for the SBA's Office of Inspector General

For more information about how SBA intends to implement Recovery Act funding, go to: http://www.sba.gov/recovery/information/index.html.

Next Steps
President Obama will conduct a prime-time news conference tonight on CBS, ABC, NBC, CNN, MSNBC and CNBC at 7 p.m. CST. In case you miss watching and/or recording the live event, CNN will rebroadcast the news conference at 12 a.m. CST.

TIME photographer Callie Shell has compiled a fascinating collection of photos depicting President Obama's first 100 days in the Oval Office. Several are published in the May 4 issue of TIME magazine. You can also view the entire photo essay online at http://time.com/100days.

SOURCES: U.S. Small Business Administration, White House
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Al Franken Kicks Off Weeklong Statewide Tour, Offers New Solutions to Ease the Middle-Class Squeeze

This morning, U.S. Senate candidate Al Franken unveiled new common-sense solutions to ease the squeeze on Minnesota's middle class. Franken discussed his new proposals at a campaign rally that attracted hundreds of people outside the locally owned Harvest Moon Coffee House in his hometown of St. Louis Park, kicking off a week of traveling the state to contrast these common-sense solutions with the disastrous Bush-Coleman economic legacy.

"Norm Coleman wants to stay the course with the Bush economic 'plan,'" said Franken. "But that 'plan' has put Minnesota's middle class into a deep hole – and it's time to stop digging.

"The solutions I'm proposing today will help Minnesotans care for their kids and aging loved ones, balance work and family, and save for retirement. Easing the middle-class squeeze isn't just about helping those who are suffering in the Bush-Coleman Recession. It's about restoring the sense of hope and opportunity that my family enjoyed when I was growing up in St. Louis Park."

After sharing a few horror stories he's heard along the campaign trail -- e.g., one about an independent trucker who now nets just $200 per week, thanks to astronomical gas prices -- Franken offered three new proposals:
* Kitchen Table Tax Relief: A set of tax credits designed to ease the burden on families caring for children or elderly loved ones
* 21st Century Family Leave: A new family leave policy to address 21st-century family structures
* The 401[U]: A revolutionary new type of retirement account to help every Minnesotan develop long-term financial security

More details on these proposals is available at www.alfranken.com/easethesqueeze.

Franken's next stops on this week's statewide tour include the following:
* July 22, 11:00 - 11:45 a.m.: Duluth -- Beaner's Central Concert Coffeehouse, 324 N. Central Avenue
* July 22, 3:00 - 3:30 p.m.: Cambridge -- DFL Offices, 237 2nd Avenue SW
* July 23, 11:00 a.m. - 12:00 p.m.: Rochester -- Rochester Labor Center, 11 4th Street SE
* July 23, 1:30 - 2:30 p.m.: Burnsville -- Ironwood Electronics, 11351 Rupp Drive, Suite 400
* July 24, 1:15 - 2:15 p.m.: St. Cloud -- Mississippi Bean & Tea Co., 819 W. Germain St.

GoodBiz113's take: Skol to you, Al Franken! Your innovative proposals deserve serious consideration and buy-in by citizen-voters, entrepreneurs, corporate leaders, and current and would-be elected officials at all levels of government. The very fact that you chose a small business from which to announce these solutions to help lift the beleaguered middle class, speaks volumes about your purely good intentions and actionable ideas for much-needed change. Minnesotans are fortunate that you're willing to represent them in the U.S. Senate.

SOURCE: Al Franken for Senate
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