Obama's Proposed "Small Business" Initiative Lacks Audacity (and Focus)
If 99 of every 100 firms in America are small, what value does the term "small business" really have?
The reality is, the value of the term of art "small business" is only political in nature; "smallness" suggests local, Mom-n-Pop, salt-of-the-earth, when in fact the one million small businesses President Obama proposed to help out in his address through a $30 billion investment of tax-payer money are not really representative of most small or new ventures.
In fact, three out of every four businesses have no employees at all! So, the vast majority of the businesses in our nation have zero employees with very little likelihood of ever hiring one. Perhaps that's why the average business size boasts a mere five employees.
The one million businesses Obama proposed assisting obtain bank loans to stay afloat are likely the same approximately one million firms that represent for-profit enterprises with ten or more employees on their payroll.