Payne Kicks Off 50th Annual National Small Business Week in Newark
Newark, N.J. – Congressman Donald M. Payne, Jr. helped kick off the 50th Anniversary of National Small Business Week at the first annual Newark Small Business Week, hosted by NewarkPulse.com, New Jersey Small Business Development Center, and Rutgers Business School.
“Though they are called ‘small businesses,’ there is nothing small about the impact they have on this nation’s economy,” said Rep. Payne, Jr. “Currently, small businesses create two out of three net new jobs in this recovering economy, and nearly 700,000 jobs were created by small business last year alone. So it is fair to say that small businesses are truly the backbone of our economy, and entrepreneurship is still a primary pathway to realizing the American Dream.”
To provide certainty to small businesses and expand good-paying jobs, Rep. Payne, Jr. has called for action on a budget that spurs new businesses and creates jobs by replacing GOP sequester cuts with a balanced agreement that creates jobs, strengthens the middle class, and responsibly reduces the deficit.
Payne encouraged the budding entrepreneurs to continue to pursue their dreams of starting their own business, saying that their initiative not only benefits them, but also their communities. “Small business owners are the job creators and the leaders in their communities who are strengthening our local economy,” continued Rep. Payne, Jr. “More than 60 cents of every dollar spent at a local business is re-circulated back into the local economy. So it’s critically important that we celebrate and support our brick and mortar businesses that keep our community unique and keep our economy thriving.”
Republicans in Congress continue with their NO Jobs agenda – refusing to consider legislation that creates jobs, blocking debate of economic proposals, and conjuring up one manufactured crisis after another – and America’s small businesses and families have paid the price. Under GOP sequestration, small businesses are estimated to be losing access to more than $900 million in loans, and the non-partisan Congressional Budget Office estimates that the GOP sequester will cost 750,000 American jobs this year alone. Despite repeated GOP calls for a budget in the past, the GOP now is blocking negotiations to get a final budget done, which is critical to creating good-paying American jobs, stopping the sequester cuts, growing the economy, and getting our fiscal house in order.
As a Member of the House Committee on Small Business, Payne emphasized that in the face of many challenges, small business owners are not alone. “While Congress continues to hash out a budget, Democrats recognize that it is essential that we expand access to capital and increase incentives for businesses to take full advantage of new tech and green energy fields,” Payne, Jr. continued. “Increasing access to capital and providing jobs training to workers are truly the keys to growing business, creating jobs, and strengthening our economic security well into the 21st Century. This week, I want to thank all small business owners and future entrepreneurs across this country for taking risks, pursuing their dreams, and contributing to the growth of this nation’s economy.”