Since taking office, President Obama has cut taxes for small businesses more than 17 times and issued more than 70,000 loans to these kinds of entrepreneurs.
And this week, the administration is showcasing some small business success.
Yesterday, the Small Business Administration announced the SBA 100, an effort to feature 100 small companies that have created 100 jobs since receiving SBA assistance. From construction to shipping to food and beverage, these operations have received support in the “form of capital, contracting, counseling or investment before going on to create at least 100 jobs.”
Together, these firms have created more than 10,000 jobs total.
One example from the SBA 100 is a business called Outdoor Venture from Stearns, Kentucky, which is located in one of the poorest counties in America. JC Egnew, co-founder of Outdoor Venture, started his company in 1974 with two employees, and now has more than 250:
Through all his business endeavors, Egnew is responsible for the startup of 4 manufacturing facilities and the creation of more than 1000 jobs in this area. Since 1984, Outdoor Venture delivered more than $260 million worth of military tents on over 140 government contracts. They have received numerous awards for innovative design changes resulting in thousands of dollars of savings to the United States military tent procurement program.
Historically, small businesses have generated two thirds of all American jobs. That’s why President Obama has made the success of innovators and entrepreneurs, like the businesses featured in the SBA 100, central to his efforts to rebuilding our economy.
Scroll through the SBA 100 and read the story of these businesses. There might even be a business featured from your community…