Few candidates are talking about small business loans, even though access to capital is the lifeblood of small business growth. Meanwhile, many of the candidates are focusing on issues that will hurt, rather than help, small businesses, including raising the federal minimum wage to $15/hour.
, including tax credits for businesses that hire unemployed workers; eliminating redundant regulations that make it hard for startups and small businesses to compete; reducing payroll taxes; and supporting legislation that makes access to funding easier for small business owners.and employed thousands or workers. His second business, a company called Capital Source, focuses on financing small and midsize companies all over the country.
Delaney would use small business as a way to drive economic development and combat income inequality. He calls for direct investment in communities “left behind by globalization and technological change” and would prioritize contracting to companies in struggling communities and supporting opportunity zones - economically-distressed areas with tax incentives to encourage private investment.
Small business growth was an important issue in 2012 and 2016 elections. Thus far, in the early Presidential campaign, the issue has taken a back seat. It remains to be seen whether this will change as Election Day 2020 draws near. Certainly, President Trump will highlight the economy and how well it has performed since he has been in the office.
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