“When my dad ran his small printing business—he printed drapery fabrics in Chicago—it put food on the table; it gave us a good, solid, middle-class home and lifestyle. And I don’t think it’s old fashioned to say that’s what I want for every family that wants to work for that here in our country today.”
HILLARY, MAY 22, 2015
A president for small business
Small businesses all over the country are ready to grow and hire, and entrepreneurs are ready to venture out on their own—if they can just get that next loan, enter a new market, or have one fewer form to fill out.
Here’s how Hillary will make it easier to start and grow a small business in America:
Unlocking access to capital. Hillary is committed to giving small businesses—and in particular, women- and minority-owned small businesses—access to the financing they need to build, grow, and hire. She will ease unnecessary regulatory burdens on community banks, which provide credit to small business owners and families looking to invest in their futures. She will support innovative new financing modes like impact investing. And she will double support for community development financial institutions and the successful State Small Business Credit Initiative, which offer crucial sources of support for small businesses across the country—particularly in underserved communities.
Cutting red tape. It shouldn’t take longer to start a small business in the United States than it does in Canada, France, or South Korea. Hillary will launch a nationwide effort to cut red tape for small businesses at every level of government. And she will build a regulatory roadmap to help small businesses navigate the regulatory landscape and reduce compliance costs associated with federal, state, and local regulation.
Providing tax relief. America’s smallest businesses—those with one to five employees—spend 150 hours and $1,100 per employee to comply with federal taxes. That’s more than 20 times higher than the average for larger firms. Hillary will simplify tax filing and provide targeted tax relief for small businesses—not big corporations that can afford lawyers and lobbyists.
Tapping new markets.Every small business across America should be able to enter new markets—whether they’re across town or across the world. Hillary will invest in the roads, bridges, ports, and airports that make it easier for small businesses to reach new customers. She will defend the Export-Import Bank, a crucial financing partner for small businesses across America, and help the bank expand its small business programs. And she will encourage innovations—like Etsy and eBay—that are unlocking new markets through innovative new platforms that let small businesses sell anywhere in America and the world.
Supporting small-business owners and entrepreneurs. Hillary will work to provide incubators, mentoring, and training to 50,000 entrepreneurs and small-business owners in underserved communities across the country. And she will support the development of entrepreneurial skills among young people—even kids in high school—so they can increase both their financial and entrepreneurial literacy. These programs will help those with good ideas today become the entrepreneurs and business leaders of tomorrow.