Small businesses are the backbone of the American economy. In Florida alone, small businesses employ over 3 million people, or nearly half of the private sector workforce. That’s why it’s critical that we empower aspiring business owners with tools and resources they can use to thrive. And, we need to get the government out of the way, so there’s less red tape and it’s easier for business owners just to turn the key in the door every morning and open for business.
This week, we passed several bills to do exactly that—to strengthen cyber security for small businesses; to increase opportunities for female entrepreneurs and communities that are often left out from getting resources because they’re far from large urban and financial centers; and to help small businesses owners so they can hire more employees and thrive.
Right now, the US unemployment rate is at the lowest level since the year 2000. Compensation increases for small business workers are at the highest level in nearly 20 years. And consumer confidence is at higher levels than we’ve seen in the last 18 years. Coupled with our tax cuts—which made great progress by adding a historic new tax cut for many of our local small businesses—the bills this week will continue our economy on the path to success!
Read more about some of the bills we passed this week to keep the American Dream strong:
- The Small Business Development Center Cyber Training Act of 2017 will help equip small business owners with the best information and resources available on cyber security to improve their cyber defenses and keep their businesses secure.
- The Women’s Business Centers Improvements Act of 2018 will help increase opportunities for female entrepreneurs by improving and increasing funding for the Women’s Business Center (WBC), a federal network of educational centers that provides training and counseling for women who want to start their own small business.
- The Small Business Development Centers Improvement Act of 2018 expands services that help aspiring entrepreneurs owners get affordable, hands-on assistance needed to realize the dream of business ownership.
- The Spurring Business in Communities Act of 2017 helps improve the process for small businesses to get access to capital and finance so they can expand.
- The Main Street Employee Ownership Act of 2018 expands access to capital and technical assistance for employee-owned businesses through the Small Business Administration (SBA).
- The Small Business 7(a) Lending Oversight Reform Act of 2018 increases the SBA’s oversight over its 7(a) loan program, which is critical for credit unions’ ability to provide loans.