U.S. Women’s Chamber Of Commerce Says Small Businesses Cannot Afford To Go Back To The Policies Of The Last Decade
Non-public firms lost a crushing twenty-percent market share during the last decade
WASHINGTON, DC/September 27, 2010 -- Today, the U.S. Women’s Chamber of Commerce™ (www.uswcc.org) released an important report, “Small Businesses Cannot Afford to Go Back to the Policies of the Last Decade” to bring a clear business outcomes assessment to the debate over small business political leadership. A key finding within the report is an analysis of recent U.S. Census data that finds smaller non-public firms lost a crushing twenty-percent market share during the last decade.
The U.S. Women's Chamber of Commerce report includes statistical information from recently released U.S. Census data that confirms the business growth disparities between large public and smaller non-public firms grew dramatically under the watch of the predominantly Republican controlled Congress and White House. During the period 1997 – 2007, while the percentage of large public firm gross revenues grew 16%, the percentage of smaller non-public firms’ gross revenues shrunk 20%.
“As the 2010 mid-term Congressional elections approach, both Democrats and Republicans are claiming their support of small businesses and that political control of Congress and the White House are vital keys for small business’ financial success,” states Margot Dorfman, CEO of the U.S. Women’s Chamber of Commerce. “The recently released, “A Pledge to America,” crafted by Republican Congressional leaders, vows to undo the work of the 111th Congress,” continues Dorfman. “This ‘pledge’ would not serve the best interests of America’s Main Street businesses as many of the actions taken by the 111th Congress were done specifically to better level the playing field for small businesses, take back a decade of significant market share loss, and create a more strongly competitive and vital American economy.”
In the report, the U.S. Women’s Chamber of Commerce applauds the actions of the 111th Congress as leaders of the House and Senate took strong steps to increase access to capital and market demand, and better level the playing field for small businesses by restoring the funding of the U.S. Small Business Administration, lowering small business lending fees, increasing the flexibility of lending and increasing the amount of lending, passing comprehensive health care reform to finally bring more competitive health care options for small business owners, giving small business owners increased tax credits, appreciation incentives, exclusion from capital gains, and passing comprehensive financial reform – including the Consumer Financial Protection Bureau bringing greater stability and transparency to our financial markets.
“America’s Main Street businesses cannot afford to go back to the failed policies of the last decade. The U.S. Women’s Chamber of Commerce endorses the forward progress of the 111th Congress and calls for political leaders to commit to continue the work needed to level the playing field for America’s Main Street,“ adds Dorfman. “America’s small firms are part of the very fabric of our communities and vital to our economic recovery. Don’t take us back to the market share lost during the last decade. Drive us forward to a stronger, more profitable future.”
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The U.S. Women's Chamber of Commerce (www.uswcc.org) is the leading independent advocate for women on economic and leadership issues. The USWCC creates opportunities and change for women by building a strong community voice, advocating for members, and providing programs and benefits to support the economic growth of women across America and around the globe. The USWCC is a not-for-profit 501(c)6 organization founded in 2001; its headquarters offices are located in Washington, D.C.
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