I believe President Trump’s State of the Union Address articulated an inspiring vision of American greatness. The president made a powerful case that his pro-growth economic policies are not only sustaining record-high levels of optimism among America’s 30 million small businesses, but also driving upward mobility among historically underrepresented minority entrepreneurs. The president’s speech gave entrepreneurs the confidence they need to make important decisions such as hiring new employees, buying new inventory, and/or expanding into a second or third location.
Small firms across the board are benefiting from this administration’s economic policies. Last year, Latino-owned small businesses saw their average revenues increase by an astounding 46%. This administration’s commitment to reducing the cost of health care, opening new international markets, providing paid family leave, and expanding access to affordable child care will further reduce barriers to entrepreneurial development and growth, particularly among minorities.
I’m especially encouraged by this president’s efforts to steer more private sector investment into more than 8,700 undercapitalized communities through Opportunity Zones. These critically important investments will help more low-income Americans climb the economic ladder and realize the American dream.
President Trump talked about his pro-growth agenda of tax cuts, deregulation, trade reform and energy independence that have delivered incredible results over the past three years. The president’s policies are lifting workers across the board and providing new opportunities and hope to millions of Americans. Job creation is booming, incomes are rising for workers at all levels and poverty is falling thanks to the president’s actions.
Incredibly, more than 7 million jobs have been added to the economy since President Trump’s election. Unemployment has fallen to historic lows, and there are more job openings than job seekers for the first time on record. Since being appointed Small Business Administration regional administrator in January 2017, I have seen small business optimism soar to one of the highest levels in history. Last fiscal year alone, SBA approved more than 68,000 small business loans worth $28 billion across the nation.
The president identified several critically important policy priorities that will expand prosperity in America and promote peace at home and abroad. This agenda includes safe and legal immigration, protecting American workers with fair trade policies, rebuilding America by advocating for an infrastructure package that invests in vital national infrastructure projects, lowering the cost of health care and prescription drugs, and strengthening national security.
America is moving in the right direction, and small-business growth continues to drive our nation’s economy. Having a strong, positive message presented by our president creates an environment that is good for business, especially in the entrepreneurial community.
For more information on SBA’s programs and services, please visit www.sba.gov and remember to follow us on Twitter @SBARockymtn.
Dan Nordberg serves as the Small Business Administration’s Region VIII administrator and is based in Denver. He oversees the agency’s programs and services in Colorado, Montana, Utah, North Dakota, South Dakota and Wyoming.
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