Earnings Show host Charles Payne explains the importance of a fantastic new small business report.
Susan P. Clark, president and CEO of the U.S. Chamber of Commerce, delivered a “State of American Business” speech Thursday that highlighted the local impact of businesses and its importance. Small businesses.
Small businesses are responsible for employing nearly half of the American workforce and driving about 43.5 percent of U.S. gross domestic product (GDP), according to a chamber report released last year. Clark's speech emphasized the importance of small businesses — including those like franchises that some might not consider small businesses. Local economies.
“The state of American business is local because businesses serve people where they are. And if you think about it, all businesses become local,” Clark explained. “This is certainly true of the small businesses that line Main Street and the local businesses that employ hundreds or even thousands of people in a community and drive its economic ecosystem.”
“The same is true of the national restaurant chain where you had your first job. The technology company that makes the equipment and the Internet service provider that together allow you to work from your kitchen table or home office. Energy producers that supply your vehicles so you can drive around the city, institutions that finance so you can start a business in your basement.
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Susan Clark, president and CEO of the US Chamber of Commerce, spoke about the importance of small businesses and the local impact of all businesses. (David Kawai/Bloomberg via Getty Images/Getty Images)
“Wherever a company, a service, a product or a solution originates, its impact is always local. Because local is where we live,” he added.
The president and CEO of the chamber is also about the importance Global trade to small and local businesses as well as the US economy as a whole.
Clark said: “In order to strengthen economic growth, the United States must participate in the global economy.” There are opportunities to strengthen trade that already supports 40 million jobs in the United States and make the goods and services we all need more affordable, expand exports, and help small businesses reach global markets. arrive and welcome the import. Increasing consumer choice And keep prices down.”
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A Chamber of Commerce report last year noted that small businesses employ nearly half of all American workers. (Lynn Turner/Boston Globe via Getty Images/Getty Images)
Clark gave his speech in Dallas, Texas and noted that Dallas-Fort Worth Metroplex It has common features with other economic regions of the country.
These characteristics include a diverse industrial base, low unemployment and a deep talent pool, as well as “a healthy mix of small businesses – serving and enriching their communities, and large businesses – creating jobs, economic activity, and Tax revenuePlus infrastructure, access to global markets and innovation ecosystem.
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Clark delivered his speech from Dallas, Texas, highlighting the features that have made the Dallas-Fort Worth metroplex an economic powerhouse. (Kirby Lee/Getty Images/Getty Images)
He went on to note that while many communities are not experiencing that level of growth, the United States must work to ensure that communities are not left behind economically, and doing so depends on ensuring conditions are favorable for business. has
“We all know there are so many places, so many communities, that don't feel the energy, don't see the growth,” Clark said. “We need to be a country where local communities are not left behind. Where there are no food deserts, where crime does not destroy business, where private investment is welcomed, where young people want to stay. And come back and build businesses, where people can be ahead and provide for their families.”
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“Not every community can, should or wants to be the next booming metropolis, but they all want economic opportunity that delivers the quality of life and promise of opportunity that all Americans want,” he added.