Small Business Saturday: Investment in community

Print Article

Idaho’s 158,000 small businesses not only drive our economy, spur innovation and create jobs, they reflect the unique character of the state. Residents and tourists feel this each time they visit a local shop, buy an artisanal product or receive outstanding personal service. And on Nov. 24, we invite shoppers to honor their contributions by supporting Small Business Saturday.

Nationwide, the Saturday after Thanksgiving is recognized as Small Business Saturday — an opportunity to help independently owned shops compete with national chains, online retailers and big box stores. When consumers spend their holiday shopping dollars at locally owned small businesses, they are investing in their neighbors and building the communities they call home.

As the Chairman of the Senate Committee on Small Business & Entrepreneurship and as the Administrator of the U.S. Small Business Administration, we understand that small businesses are critical to America’s success. They create two out of every three net new jobs in the private sector and employ more than half of our nation’s workforce. That is why we have worked together under President Trump’s leadership to create an environment that fosters small business growth and encourages our nation’s entrepreneurs to take a risk on starting or expanding a small business of their own.

This is a terrific time for America’s 30 million small businesses. President Trump has advanced a pro-growth agenda, cutting costly, job-killing federal regulations that hinder small business growth. For every new regulation issued, the Administration has eliminated 12, saving businesses $23 billion in the latest fiscal year. Tax cuts are also saving small businesses money through lower rates and investment incentives, enabling them to put more money in their employees’ pockets through raises and bonuses. New initiatives are also helping make it more affordable for small businesses to offer healthcare coverage and offer more choices.

As a result of tax relief and regulatory reform, NFIB, previously known as the National Federation of Independent Business, reports a two-year streak of record-high levels of optimism among small business owners. In NFIB’s most recent monthly survey, small business owners report strong sales and say they plan to invest in their companies and hire more workers. Many are boosting wages as well — 34 percent say they are increasing compensation to attract and retain workers.

With higher paychecks and savings from lower taxes, consumers have more money in their pockets. A Conference Board survey shows consumer confidence is at the highest level in 18 years. In fact, the National Retail Federation expects holiday spending to increase this year to as much as $720 billion — an increase of about 4.5 percent over last year.

We encourage shoppers to invest their holiday shopping dollars in small businesses — on Small Business Saturday, and every day. Their support has driven the good economic news we’ve seen over the past two years and will continue to propel our economy forward.

• • •

U.S. Sen. Jim Risch, R-Idaho, is chairman of the Senate Committee on Small Business and Entrepreneurship. Linda McMahon heads up the Small Business Administration.

Print Article

Read More My Turn

A profile of frustration: School critic is off base

June 15, 2019 at 5:00 am | Coeur d'Alene Press Reading Ron Deady’s June 9 letter to the editor in the Coeur d’Alene Press left me completely baffled and bewildered. I had the privilege of participating in a “Profile of a Graduate” workshop hoste...

Comments

Read More

OPINION: LYNN FLEMING — With Atlas project, don’t follow Riverstone example

June 14, 2019 at 5:00 am | Coeur d'Alene Press Perhaps you live in Riverstone or you head down by foot, bicycle or vehicle to the man-made lake, where a gravel pit used to be, for concerts, the playground, a wedding or a dog walk. The lake has pr...

Comments

Read More

Post Falls, the city that (unfortunately) never sleeps

June 14, 2019 at 5:00 am | Coeur d'Alene Press On May 21 I received an email from Shelly Enderud, city administrator for Post Falls. She noted I had reached out to Mayor Jacobson and started a conversation about Quiet Zones and was inviting me to...

Comments

Read More

CHUCK MALLOY: Education quality goes beyond national rankings

June 07, 2019 at 5:00 am | Coeur d'Alene Press If you pay attention to what you read and hear about the national rankings, you might think that our public schools are in the water hazard. In Idaho, the funding is low, test scores are horrible an...

Comments

Read More

Contact Us

(208) 664-8176
215 N. Second St
Coeur d'Alene, Idaho 83814

©2019 The Coeur d'Alene Press Terms of Use Privacy Policy
X
X